| 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: