Egypt Published Law No. 173 of 2020 in the Official Gazette on 16 August 2020 for the introduction of a new tax amnesty scheme. The scheme provides for a reduction of interest and penalties due on taxes due before 17 August 2020 as follows:
Where principal amounts have been paid before 17 August 2020, 100% interest and penalty relief are provided. The amnesty scheme is available in respect of income tax, VAT, sales tax, customs duty, real estate tax, stamp duty, and the development levy due before 17 August 2020.
Further to the amnesty, the tax dispute settlement process, which was first introduced in 2016 and subsequently extended, has been further extended by Law No. 173 for claims submitted up to 31 December 2020. The process allows taxpayers to submit and settle tax disputes through independent committees separate from the tax authority, instead of going through the courts.
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