Tax Authority, banks meet to discuss implementation of new tax treatment

The Tax Authority met with a committee from the Federation Of Egyptian Banks yesterday to discuss the best way to implement proposed amendments to the Income Tax Act, according to a Finance Ministry statement. The new treatment, which would change how banks and corporations account for income from investments in government debt, will come into play as soon as they’re ratified by President Abdel Fattah El Sisi, Vice Minister of Finance Ahmed Kouchouk said.