Arab Today, arab today egypt\s top construction firm to pay 1bn in tax evasion dispute
Last Updated : GMT 14:23:37
Arab Today, arab today
Arab Today, arab today

Egypt\'s top construction firm to pay $1bn in tax evasion dispute

Arab Today, arab today

Arab Today, arab today Egypt\'s top construction firm to pay $1bn in tax evasion dispute

Egypt’s biggest private construction firm Orascom Construction Industries (OCI) has initially agreed to pay the country’s tax authority (ETA) around LE7.1 billion ($1 billion) over a tax evasion dispute worth roughly $2 billion, finance minister Morsi El-Sayed Hegazi said in a conference on Sunday, Ahram Arabic news website reported. A spokesperson of the Ministry of Finance, Mohamed El-Saqqa, confirmed the news to Ahram Online. According to El-Saqqa, the ministry is currently setting the legal frame for the reconciliation with OCI. OCI refused to comment on the minister’s statement, saying that it may comment later. The tax dispute is attributed to OCI’s subsidiary sale to global group La Farge in 2007 worth a total of $12 billion. Reconciliation comes following a war of words between the disputing parties. Osama Saleh the Egyptian investment minister is brokering the deal to solve the conflict. Earlier this month, Egypt’s prosecutor-general, Talaat Ibrahim, ordered the formation of a technical committee tasked with looking into the tax dispute between OCI and ETA that resulted in a travel ban on OCI chairman and CEO Nassef Sawiris, and his father, former company chairman Onsi Sawiris. OCI\'s share price rose by some 1.2 percent in Sunday\'s mid-trading. Albawaba Business

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt\s top construction firm to pay 1bn in tax evasion dispute Arab Today, arab today egypt\s top construction firm to pay 1bn in tax evasion dispute

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt\s top construction firm to pay 1bn in tax evasion dispute Arab Today, arab today egypt\s top construction firm to pay 1bn in tax evasion dispute

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday