{"id":601591,"date":"2019-03-05T04:27:50","date_gmt":"2019-03-05T04:27:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/"},"modified":"2019-03-05T04:27:50","modified_gmt":"2019-03-05T04:27:50","slug":"egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/","title":{"rendered":"Egypt\u2019s taxpayers concerned over harsh penalties in draft law on tax procedures"},"content":{"rendered":"

<\/a> EXCLUSIVE- FinMin to ease tax violation penalties under draft tax procedures law: <\/b>The Finance Ministry has agreed to amend the draft law on new unified tax procedures<\/a> amid concerns from taxpayers over harsh violation penalties, a government source tells Enterprise. The ministry will likely scrap several clauses, and replace them with a single stipulation that would make fines the default method of penalizing non-compliant taxpayers. The stipulation would hand prison sentences of 2-5 years only in incidents of deliberate tax avoidance. The initial draft<\/a>, which is up on the ministry\u2019s website until Thursday to invite public discourse, had loosely phrased articles stipulating 3-5 years of prison time and fines of up to EGP 50k. There were also other reservations from the community about the Tax Authority\u2019s (TA) increased power to investigate tax filings, which some see as an infringement on company privacy.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- FinMin to ease tax violation penalties under draft tax procedures law: The Finance Ministry has agreed to amend the draft law on new unified tax procedures amid concerns from taxpayers over harsh violation penalties, a government source tells Enterprise. The ministry will likely scrap several clauses, and replace them with a single stipulation that […]<\/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":[679,72,1318,180,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601591","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-egyptian-tax-authority","tag-enterpriseam","tag-fiscal-policy","tag-legislation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"899506c2-b530-431b-8747-cc393a932b29","is_powered_by":true,"section_story_id":"92b6d1aa-cfe5-4dc4-8363-28efc8f8eb5b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601581],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s taxpayers concerned over harsh penalties in draft law on tax procedures - 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\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s taxpayers concerned over harsh penalties in draft law on tax procedures\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- FinMin to ease tax violation penalties under draft tax procedures law: The Finance Ministry has agreed to amend the draft law on new unified tax procedures amid concerns from taxpayers over harsh violation penalties, a government source tells Enterprise. The ministry will likely scrap several clauses, and replace them with a single stipulation that […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-05T04:27:50+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\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s taxpayers concerned over harsh penalties in draft law on tax procedures\",\"datePublished\":\"2019-03-05T04:27:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/\"},\"wordCount\":157,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Egyptian Tax Authority\",\"EnterpriseAM\",\"fiscal policy\",\"legislation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/\",\"name\":\"Egypt\u2019s taxpayers concerned over harsh penalties in draft law on tax procedures - 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