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OCI NV: Final tax dispute ruling in Egypt to be issued October 28

OCI NV: Final tax dispute ruling in Egypt to be issued October 28
OCI N.V. announced today that the final session of the Egyptian Tax Authority’s (ETA) Independent Appeals Committee, the responsible body overseeing the tax dispute between OCI N.V.’s subsidiary Orascom Construction Industries (OCI S.A.E.) and the ETA, was held today.
Final submissions were presented to the Appeals Committee, which is expected to issue a final judgment on the case on October 28, 2014, the company added.
This committee was originally reviewing OCI S.A.E.’s tax returns, but the process was terminated in 2012 by the previous administration. Following a number of meetings with the Egyptian government, the tax dispute liability case was referred back to the committee, which held its first session in July 2014.
All previous preliminary rulings related to the tax dispute have been appealed and are pending the Appeals Committee’s final ruling on 28 October 2014.