Tax Authority’s seizure of GTH’s bank accounts relates to 2005 tax dispute -source

An administrative freeze on Global Telecom Holdings (GTH)’s bank accounts is related to a 2005 tax dispute, a source at the Tax Authority told Al Mal. The hold on EGP 990 mn in GTH’s Egyptian bank accounts is “normal procedure” the source says. GTH had said it was going to appeal the decision and that it will continue to honor all of its obligations.