{"id":604566,"date":"2018-12-06T04:03:10","date_gmt":"2018-12-06T04:03:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/"},"modified":"2018-12-06T04:03:10","modified_gmt":"2018-12-06T04:03:10","slug":"banks-say-new-tax-treatment-not-to-affect-2018-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/","title":{"rendered":"Banks say new tax treatment not to affect 2018 results"},"content":{"rendered":"

Banks say new tax treatment of income from gov\u2019t debt won\u2019t hit 2018 P&L: <\/b>CIB\u2019s 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)<\/a>. The Federation of Egyptian Banks has recommended that loan loss provisions stay out of the new tax treatment. In a similar EGX disclosure (pdf)<\/a>, QNB also said the amendments would not affect its 2018 results.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banks say new tax treatment of income from gov\u2019t debt won\u2019t hit 2018 P&L: CIB\u2019s 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 […]<\/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":[204,240,72,625,2380,69,1041],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604566","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-banking","tag-cib","tag-enterpriseam","tag-qnb-alahli","tag-speed-round","tag-tax","tag-treasuries","wpautop","entry"],"acf":{"mongo_id":"49115c3c-41d5-4b59-9f6c-c2ab439a9900","order":"0","is_powered_by":true,"section_story_id":"643c444f-149a-40d1-a010-040444763f6d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[604551],"teaser":"","voice_url":""},"yoast_head":"\nBanks say new tax treatment not to affect 2018 results - 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\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks say new tax treatment not to affect 2018 results\" \/>\n<meta property=\"og:description\" content=\"Banks say new tax treatment of income from gov\u2019t debt won\u2019t hit 2018 P&L: CIB\u2019s 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 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-06T04:03:10+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\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banks say new tax treatment not to affect 2018 results\",\"datePublished\":\"2018-12-06T04:03:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\"},\"wordCount\":88,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"CIB\",\"EnterpriseAM\",\"QNB Alahli\",\"SPEED ROUND\",\"tax\",\"treasuries\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\",\"name\":\"Banks say new tax treatment not to affect 2018 results - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2018-12-06T04:03:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banks say new tax treatment not to affect 2018 results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Banks say new tax treatment not to affect 2018 results - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/","og_locale":"en_US","og_type":"article","og_title":"Banks say new tax treatment not to affect 2018 results","og_description":"Banks say new tax treatment of income from gov\u2019t debt won\u2019t hit 2018 P&L: CIB\u2019s 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 […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2018-12-06T04:03:10+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Banks say new tax treatment not to affect 2018 results","datePublished":"2018-12-06T04:03:10+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/"},"wordCount":88,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["banking","CIB","EnterpriseAM","QNB Alahli","SPEED ROUND","tax","treasuries"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/","url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/","name":"Banks say new tax treatment not to affect 2018 results - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2018-12-06T04:03:10+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/06\/banks-say-new-tax-treatment-not-to-affect-2018-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Banks say new tax treatment not to affect 2018 results"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":604690,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/new-tax-treatment-wont-affect-adibs-2018-financial-results\/","url_meta":{"origin":604566,"position":0},"title":"New tax treatment won\u2019t affect ADIB\u2019s 2018 financial results","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"Abu Dhabi Islamic Bank\u2019s 2018 financial results will not be affected by proposed amendments to the tax treatment of bank income from government debt, the bank said in an EGX disclosure (pdf). The bank expects, however, a decline of up to 8% in its 2019 profits. CIB and QNB had\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604988,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/18\/al-baraka-bank-egypt-expects-new-tax-treatment-to-hit-2019-profits\/","url_meta":{"origin":604566,"position":1},"title":"Al Baraka Bank Egypt expects new tax treatment to hit 2019 profits","author":"enterpriseam admin","date":"18 December 2018","format":false,"excerpt":"Al Baraka Bank expects its 2019 profits to decline by 5-7% as a result of proposed amendments to the tax treatment of bank income from government debt, if they are approved, the bank said in an EGX disclosure (pdf). The bank, however, doesn\u2019t expect the decision to reflect in its\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622057,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/26\/finmin-federation-of-egyptian-banks-reach-compromise-on-new-accounting-standards\/","url_meta":{"origin":604566,"position":2},"title":"FinMin, Federation of Egyptian Banks reach compromise on new accounting standards?","author":"enterpriseam admin","date":"26 November 2018","format":false,"excerpt":"FinMin, Federation of Egyptian Banks working toward compromise on new accounting standards? The Finance Ministry and the Federation of Egyptian Banks (FEB) agreed at a meeting yesterday that proposed amendments to the tax code that could hit bank profitability won\u2019t be applied retroactively to the start of this year, sources\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":604566,"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. Multiple sources in the tax apparatus, including\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\/2020\/4\/82.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604915,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/finmin-to-apply-tax-treatment-of-egypt-debt-holdings-to-both-bank-corporates\/","url_meta":{"origin":604566,"position":4},"title":"FinMin to apply tax treatment of Egypt debt holdings to both bank, corporates","author":"enterpriseam admin","date":"17 December 2018","format":false,"excerpt":"Corporates will see the tax treatment of their income from state debt change, too: Corporations will join banks in seeing changes to how their income from holdings of government is taxed, minister Mohamed Maait told Al Mal. Large wheat milling companies, real estate players \u2014 such as Emaar (who holds\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":602215,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/21\/egypt-to-collect-taxes-under-new-banking-treatment-quarterly-not-monthly\/","url_meta":{"origin":604566,"position":5},"title":"Egypt to collect taxes under new banking treatment quarterly, not monthly","author":"enterpriseam admin","date":"21 March 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t to collect taxes from new banking tax treatment quarterly, not monthly? The government will likely collect taxes from banks on their holdings of government debt under the recently-passed new treatment on a quarterly, rather than monthly, basis, a senior government official tells Enterprise. The new treatment, which was\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=604566"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604566\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/604551"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=604566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=604566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=604566"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=604566"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=604566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}