{"id":569835,"date":"2020-03-09T04:08:54","date_gmt":"2020-03-09T04:08:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/el-sisi-ratifies-amendments-to-temporary-tax-dispute-bill-terrorist-entities-act\/"},"modified":"2020-03-09T04:08:54","modified_gmt":"2020-03-09T04:08:54","slug":"el-sisi-ratifies-amendments-to-temporary-tax-dispute-bill-terrorist-entities-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/el-sisi-ratifies-amendments-to-temporary-tax-dispute-bill-terrorist-entities-act\/","title":{"rendered":"El Sisi ratifies amendments to temporary tax dispute bill, Terrorist Entities Act"},"content":{"rendered":"

LEGISLATION WATCH- President Abdel Fattah El Sisi has ratified the temporary tax <\/strong>dispute resolution bill,<\/strong> Youm reports<\/a>, carrying a copy of the amended law published in the Official Gazette on 3 March. The legislation<\/a> extends the expired Tax Dispute Resolution Act for six months, allowing the newly-established dispute settlement committees to handle tax disputes until 30 June this year. It permits businesses<\/a> whose assets were frozen for not paying taxes to make a 10% down payment to unfreeze them and allow them to file for a settlement.<\/p>\n

El Sisi ratified amendments to the Terrorist Entities Act<\/strong>, Youm7 reports<\/a> separately. The House had approved the changes<\/a> late last year, under which the general prosecution is required to announce new additions or removals of groups or individuals from the terror watchlist in the Official Gazette.<\/p>\n

House gives preliminary approval to <\/strong>Anti-Money Laundering Act amendments:<\/strong> The House of Representatives yesterday approved in principle amendments to the Anti-Money Laundering Act that would expand the list of assets that can be used in money laundering to include selling and smuggling of oil, natural resources, securities and cryptocurrency, among others, according to Al Shorouk<\/a>.<\/a> The amendments, which were proposed last month<\/a> and approved by a parliamentary committee earlier in March<\/a>, also gives jurisdiction to the Money Laundering and Terrorist Financing Unit to expedite assets freezes and would put in place tougher sanctions.<\/p>\n

The House Energy Committee also approved in principle a bill scrapping the Hydro Power Plant Executive Authority<\/strong>, which was proposed by the Madbouly Cabinet<\/a> last month, Al Shorouk noted.<\/a> The hydroelectric assets would be transferred to a new Renewable Energy Development Agency that would be run by the Electricity Ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- President Abdel Fattah El Sisi has ratified the temporary tax dispute resolution bill, Youm reports, carrying a copy of the amended law published in the Official Gazette on 3 March. The legislation extends the expired Tax Dispute Resolution Act for six months, allowing the newly-established dispute settlement committees to handle tax disputes until […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[96,3184,4753,679,72,276,274,4701,265,2380,4752,4751],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-569835","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-abdel-fattah-el-sisi","tag-anti-terrorism-act","tag-building-law","tag-egyptian-tax-authority","tag-enterpriseam","tag-finance-ministry","tag-house-of-representatives","tag-middle-east-and-north-africa-financial-action-task-force","tag-money-laundering","tag-speed-round","tag-temporary-tax-dispute-resolution-bill","tag-terroism-funding","wpautop","entry"],"acf":{"mongo_id":"51255a5a-6e45-4233-8281-12256c786439","is_powered_by":true,"section_story_id":"67616b2c-7350-4ad6-b871-cb9e11ffc1bd","story_type":"1","photo_url":"","photo_position":"above","related_issue":[569821],"teaser":"","voice_url":""},"yoast_head":"\nEl Sisi ratifies amendments to temporary tax dispute bill, Terrorist Entities Act - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/el-sisi-ratifies-amendments-to-temporary-tax-dispute-bill-terrorist-entities-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi ratifies amendments to temporary tax dispute bill, Terrorist Entities Act\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- President Abdel Fattah El Sisi has ratified the temporary tax dispute resolution bill, Youm reports, carrying a copy of the amended law published in the Official Gazette on 3 March. 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The legislation, which the ministry finalized earlier this week, will act as an\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634974,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/30\/house-grants-preliminary-approval-to-extending-tax-dispute-resolution-act\/","url_meta":{"origin":569835,"position":2},"title":"House grants preliminary approval to extending Tax Dispute Resolution Act","author":"enterpriseam admin","date":"30 January 2018","format":false,"excerpt":"LEGISLATION WATCH- The House of Representatives gave preliminary approval to extending the mandate of the Tax Dispute Resolution Act for an additional year, Ahram Gate reports. The House Planning and Budgeting Committee had agreed last week to extend the act for only one year, as opposed to the two years\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628186,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/27\/is-finmin-looking-to-significantly-reduce-mandate-of-tax-dispute-act\/","url_meta":{"origin":569835,"position":3},"title":"Is FinMin looking to significantly reduce mandate of Tax Dispute Act?","author":"enterpriseam admin","date":"27 June 2018","format":false,"excerpt":"Is FinMin looking to significantly reduce mandate of Tax Dispute Act? The Finance Ministry is considering amendments to the Tax Dispute Resolution Act that would reduce its current mandate of two years to only four months, ministry sources told state-owned MENA, according to Al Shorouk. Two reasons were given to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626441,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/02\/tax-authority-settles-egp-16-bn-in-tax-disputes-under-tax-dispute-resolution-act\/","url_meta":{"origin":569835,"position":4},"title":"Tax Authority settles EGP 16 bn in tax disputes under Tax Dispute Resolution Act","author":"enterpriseam admin","date":"2 July 2018","format":false,"excerpt":"The Tax Authority has settled EGP 16 bn-worth of disputes since the Tax Dispute resolution Act was passed in 2016, deputy head Mohamed Abdel Sattar said on Thursday, Al Masry Al Youm reports. 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