A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.
What it means for traders
The division head said the meeting examined the direct effect of the decision on supply inside the local market, and that the Chamber submitted a detailed memorandum carrying traders’ proposals on the timetable.
Every day of delay in customs release costs an importer more than any tax cut saves him.
Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
The figures in brief
- lower customs release costs among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
Mostafa Abdel-Latif
Reem El-Qady
Mona Abdel-Hakim