Hilton, Mövenpick to settle tax disputes

The Hilton and Mövenpick hotel groups, along with the Industrial Development Bank and the October for Development and Real Estate Investment Company have all filed requests to resolve tax disputes with the Tax Authority. The companies are ending the dispute by paying a settlement fee, unnamed sources told Al Borsa. The cases of tax disputes, which involve 20 companies, are valued at around EGP 90-100 mn, the source added.