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Wednesday, 27 June 2018

Is FinMin looking to significantly reduce mandate of Tax Dispute Act?

Is FinMin looking to significantly reduce mandate of Tax Dispute Act? The Finance Ministry is considering amendments to the Tax Dispute Resolution Act that would reduce its current mandate of two years to only four months, ministry sources told state-owned MENA, according to Al Shorouk. Two reasons were given to this change to the law: Top brass at the Finance Ministry want to speed up the resolution of some 150k tax disputes currently on file. Second, the ministry’s tax disputes resolution committees have only received 12,000 new cases, the source added. The two-year law, which is meant to expedite resolution of tax conflicts through the use of resolution committees, had been renewed for a second two-year mandate back in March. The ministry had said back then that the law resolved around 4,500 tax disputes and contributed EGP 15.1 bn to state coffers last year.

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