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Thursday, 5 December 2019

Egypt’s Cabinet approves temporary tax dispute resolution bill

CABINET WATCH- Ministers approve temporary tax dispute resolution bill: The Madbouly Cabinet approved yesterday a temporary, six-month law to facilitate the process of resolving open tax disputes drafted by the Finance Ministry, according to an official statement. The legislation, which the ministry finalized earlier this week, will act as an extension to the recently expired Tax Dispute Resolution Act, which took tax disputes away from courts and handed them over to newly-established expert committees to seek amicable settlements.The new bill would mandate these committees to handle tax dispute settlements until 30 June 2020 and would introduce two new sections to Article 110 of the Income Tax Act, which legislates late tax payment fees.

The Council of Ministers also signed off yesterday on a bundle of decisions from the investment dispute resolution committee and legalizing 87 churches and their affiliated buildings.

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