On 10 March 2021, the Ministry of Finance, issued Decree No. 125 of 2021 to add a new paragraph to Article 38 of the Executive Regulations of the VAT law.
The decision includes prohibiting paper invoices in deducting or refunding the VAT and enforcing that only e-invoices cleared with the government’s systems can be used in tax refunds as of 1 January 2022.
This is a bold move by the Ministry of Finance - as of now, only 411 companies are using the e-invoicing system. More co…