Egypt | VAT
December 03, 2024
New Bank Accounts Introduced for VAT Payments on Digital Services in Egypt
Non-Resident Vendors must adhere to currency-specific transfers to comply with the Egyptian Tax Regulations.
By Sara Abdelfattah
| Image Credits: "Central Bank of Egypt" by iTripleM
The E-Commerce Tax Unit at the Egyptian Tax Authority has officially notified all registered non-resident vendors under the simplified tax registration system of newly established bank accounts for paying Value-Added Tax (VAT) on digital services provided in Egypt.
This initiative aims to streamline the payment process and ensure the secure and prompt transfer of VAT to the Egyptian Tax Authority.
The announcement emphasizes that VAT payments must be made in the same currency used for charging the service fees, in accordance with Ministerial Decree No. 518 for 2023.
This regulation mandates that the currency in which the service value is collected is the only currency acceptable for VAT payments.
To facilitate the process, the following foreign currency accounts have been introduced:
For USD ($) Transfers:
- Beneficiary Bank Name: Central Bank of Egypt
- Beneficiary Cust Name: Ministry of Finance/Egyptian Tax Authority
- Account Number: 4/082/18916/5
- IBAN Code: EG140001000100000004082189165
- SWIFT Code: CBEGEGCXXXX
For Euro (€) Transfers:
- Beneficiary Bank Name: Central Bank of Egypt
- Beneficiary Cust Name: Ministry of Finance/Egyptian Tax Authority
- Account Number: 4/082/18917/8
- IBAN Code: EG510001000100000004082189178
- SWIFT Code: CBEGEGCXXXX
For GBP (£) Transfers:
- Beneficiary Bank Name: Central Bank of Egypt
- Beneficiary Cust Name: Ministry of Finance/Egyptian Tax Authority
- Account Number: 4/082/18918/1
- IBAN Code: EG670001000100000004082189181
- SWIFT Code: CBEGEGCXXXX
The E-Commerce Tax Unit underlined that, at present, bank transfers to the designated accounts are the only method available for paying VAT in Egypt.
Non-resident vendors are also reminded to verify the email notification and ensure they use only the specified accounts.
For more information, you can reach out to the following contacts:
About Authors:
Sara Abdelfattah
Tax Officer and Coordinator & Member of E-Commerce Unit | Egyptian Tax Authority
Ms. Abdelfattah is a Tax Officer and Coordinator at the Egyptian Tax Authority, specializing in international taxation with over a decade of experience. As a key member of the E-Commerce Tax Unit, she plays a pivotal role in coordinating with global digital platforms on tax compliance in Egypt’s digital economy. Sara also manages the E-Commerce Unit’s LinkedIn page and organizes events. She holds a Master’s degree in International Taxation and Digital Economy from Cairo University and is a certified Transfer Pricing Specialist. With additional certifications in international taxation, BEPS, digital transformation, and anti-money laundering from renowned institutions such as the OECD and Guardia di Finanza in Italy, Sara has been instrumental in drafting Egypt’s international tax agreements, further establishing her expertise in the field.
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