{"id":600970,"date":"2019-02-14T04:04:38","date_gmt":"2019-02-14T04:04:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/"},"modified":"2019-02-14T04:04:38","modified_gmt":"2019-02-14T04:04:38","slug":"tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/","title":{"rendered":"Tax Authority, banks meet to discuss implementation of new tax treatment"},"content":{"rendered":"

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<\/a>, according to a Finance Ministry statement<\/a>. 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\u2019re ratified by President Abdel Fattah El Sisi, Vice Minister of Finance Ahmed Kouchouk said.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/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":[9298],"tags":[204,2372,72,7087,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600970","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking","tag-banking-finance","tag-enterpriseam","tag-finance","tag-tax","wpautop","entry"],"acf":{"mongo_id":"d8e40396-8b59-47ac-8e3c-c9a451a6e7ad","is_powered_by":true,"section_story_id":"da5458c4-a373-4568-bd1b-bc1b6f3914b5","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600935],"teaser":"","voice_url":""},"yoast_head":"\nTax Authority, banks meet to discuss implementation of new tax treatment - 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\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Authority, banks meet to discuss implementation of new tax treatment\" \/>\n<meta property=\"og:description\" content=\"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 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-14T04:04:38+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tax Authority, banks meet to discuss implementation of new tax treatment\",\"datePublished\":\"2019-02-14T04:04:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/\"},\"wordCount\":86,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"BANKING + FINANCE\",\"EnterpriseAM\",\"Finance\",\"tax\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/tax-authority-banks-meet-to-discuss-implementation-of-new-tax-treatment\/\",\"name\":\"Tax Authority, banks meet to discuss implementation of new tax treatment - 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The draft will now\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\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600142,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/tax-authority-to-mark-cost-of-investment-as-deductible-in-new-banking-tax-treatment\/","url_meta":{"origin":600970,"position":1},"title":"Tax Authority to mark \u201ccost of investment\u201d as deductible in new banking tax treatment","author":"enterpriseam admin","date":"21 January 2019","format":false,"excerpt":"EXCLUSIVE- Tax Authority to mark \u201ccost of investment\u201d in treasuries as deductible in new tax treatment: The Tax Authority could allow banks to count the \u201ccost of investment\u201d in state treasuries as an expense that would lower their pre-tax income, authority head Abdel Azim Hussein told Enterprise.Why does this matter?\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":599889,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/egypts-parliament-committee-gives-nod-to-proposed-amendments-to-income-tax-act\/","url_meta":{"origin":600970,"position":2},"title":"Egypt\u2019s parliament committee gives nod to proposed amendments to Income Tax Act","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"LEGISLATION WATCH- Proposed changes to how banks are taxed get committee-level approval in the House: The House Planning and Budget Committee has given a nod to government-proposed amendments to the Income Tax Act that would change how banks and corporations account for income from investments in government debt, Al Mal\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":604819,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/13\/finmin-to-work-with-egypts-banks-on-mitigating-the-impact-of-the-new-tax-treatment\/","url_meta":{"origin":600970,"position":3},"title":"FinMin to work with Egypt\u2019s banks on mitigating the impact of the new tax treatment","author":"enterpriseam admin","date":"13 December 2018","format":false,"excerpt":"EXCLUSIVE- Tax officials spreading oil on troubled waters after flap over tax treatment of bank holdings of gov\u2019t debt: Tax officials are actively working to smooth feathers ruffled by a proposed change to how bank income from investments in government debt is taxed. 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