Orascom Construction Industries
OCIC
OCIC
OCI N.V. announced today that 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) and the ETA, has postponed the final ruling related to the ongoing tax dispute in Egypt until next Tuesday, November 4, 2014.
The company said earlier that final submissions were presented to the Appeals Committee on September 16.
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.
The company said earlier that final submissions were presented to the Appeals Committee on September 16.
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.
Source:
Mubasher
