The Ministry of Finance announced that the committees responsible for resolving tax disputes have resolved more than 450 disputes between the Public Tax Authority and taxpayers according to the provisions of the Tax Dispute Resolution Law No. 79 of 2016, which led to settlement agreements for tax disputes and agreeing upon final taxes estimated at EGP 1.5 bn. Deputy Finance Minister for Tax Policies, Amr El-Monayer, said that the committees formed by the Minister of Finance, Amr El-Garhy, three months ago are working intensively to quickly finish all the requests for tax dispute settlements. He added that the committees are also handling the disputes concerning all kinds of taxes: commercial and industrial profits tax, income tax, payroll or sales tax, stamp tax, real estate wealth tax, and even disputes that may arise during the one-year validity period of the Value Added Tax Law. He said that Ministry of Finance is also keen on resolving tax disputes quickly in order to stabilise financial and tax centres.

Source: Daily News Egypt March 19, 2017 14:48 UTC