Banks say new tax treatment not to affect 2018 results

Banks say new tax treatment of income from gov’t debt won’t hit 2018 P&L: CIB’s 2018 financial results will not reflect the impact of proposed amendments to the tax treatment of bank income from government debt, it said in an EGX disclosure (pdf). The Federation of Egyptian Banks has recommended that loan loss provisions stay out of the new tax treatment. In a similar EGX disclosure (pdf), QNB also said the amendments would not affect its 2018 results.