GS1 is more than product identification; we’re in a variety of sectors due to their heavy reliance on product and service identification.
GS1 is more than product identification; we’re in a variety of sectors due to their heavy reliance on product and service identification.
A taxpayer’s life becomes far easier with a GTIN, simply by cutting out many unnecessary steps, allowing users to bulk upload products, services, and more.
In general, taxes differ from item to item, and to effectively keep track of things, a classification system was needed. Whereas Global Product Classification codes denote a product’s class, GS1’s GTIN differentiates each individual article or item, allowing for peak traceability
A Necessary Benefit
In 2020, GS1 Egypt signed an MOU with the Egyptian Tax Authority. The ETA needed to adopt e-bills instead of having to collect a long paper trail. There needs to be a clear and traceable involvement for every transaction between a taxpayer and the ETA, and e-Invoicing was the way to go.
www.eta.gov.eg/sites/default/files/2022-07/law-323-efatora8.pdf
To fully integrate today’s fast-paced technology with a system as established as taxation, the ETA relies on GS1’s systems for item and service classification, as well as identification. This includes services too.
It has become necessary for taxpayers of all fields and backgrounds to obtain a GTIN.
The advantages of using a GTIN are many.
But, in the case of taxation, taxpayers won’t need to register their services individually and wait for 15 days. Furthermore, GS1 codes share direct integration with the ETA, allowing you to issue E-Invoices immediately without a waiting period.
Obtaining your own GTIN for any of your offered products and/or services is a swift process, and the benefits go without saying. All you need to do is visit our website and go through our standard registration procedure. You will, however, be asked to inform us of your cooperation with the ETA for the process to go smoothly.