{"id":604864,"date":"2018-12-16T04:04:04","date_gmt":"2018-12-16T04:04:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/egypt-considering-legal-framework-to-seize-unpaid-taxes\/"},"modified":"2018-12-16T04:04:04","modified_gmt":"2018-12-16T04:04:04","slug":"egypt-considering-legal-framework-to-seize-unpaid-taxes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/egypt-considering-legal-framework-to-seize-unpaid-taxes\/","title":{"rendered":"Egypt considering legal framework to seize unpaid taxes"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>The taxman wants the power to freeze funds in the corporate and personal accounts of alleged tax cheats: <\/b>The Finance Ministry is looking to discuss with the central bank legislation that would allow the government to freeze funds in the corporate and personal bank accounts of alleged tax cheats, Finance Minister Mohamed Maait said yesterday, <a href=\"https:\/\/www.almalnews.com\/Story\/403117\/14\/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%B3%D9%86%D8%A8%D8%AD%D8%AB-%D8%A2%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AD%D8%AC%D8%B2-%D8%B9%D9%84%D9%89--%D8%AD%D8%B3%D8%A7%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%AA%D8%AE%D9%84%D9%81%D9%8A%D9%86-%D8%B9%D9%86-%D8%A7%D9%84%D8%B6%D8%B1%D8%A7%D8%A6%D8%A8-%D8%A8%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83\">according to Al Mal<\/a> and <a href=\"https:\/\/www.masrawy.com\/news\/news_economy\/details\/2018\/12\/15\/1479959\/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D9%86%D8%A7%D9%82%D8%B4-%D9%85%D8%B9-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%88%D8%B6%D8%B9-%D8%A2%D9%84%D9%8A%D8%A9-%D9%82%D8%A7%D9%86%D9%88%D9%86%D9%8A%D8%A9-%D8%AA%D8%B3%D9%85%D8%AD-%D8%A8%D8%A7%D9%84%D8%AD%D8%AC%D8%B2-%D8%B9%D9%84%D9%89-%D9%85%D8%B3%D8%AA%D8%AD%D9%82%D8%A7%D8%AA\">Masrawy<\/a>. The measure would give the Tax Authority the power to freeze sums equivalent to those the authority believes the account holders owe the state treasury.<\/p>\n<p><b>The questions here are many<\/b>, ranging from the criteria you need to trigger before making the list of cheats to whether the freeze could be ordered without a court order and what, if any, appeal mechanism might be put in place.<\/p>\n<p><b>Background:<\/b> The ministry had previously been angling for direct access to corporate bank data through amendments to the Income Tax Act, now-former Tax Authority head Emad Samy <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/26\/finmin-seeks-access-to-companies-bank-data-under-proposed-amendments-to-the-income-tax-act\/\">had told us<\/a>. The idea, which was meant to help clamp down on tax evasion, was <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/27\/tax-inspectors-wont-have-direct-access-to-corporate-banking-information-central-bank-says\/\">nixed by the central bank<\/a> on the basis that it would violate client data privacy provisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The taxman wants the power to freeze funds in the corporate and personal accounts of alleged tax cheats: The Finance Ministry is looking to discuss with the central bank legislation that would allow the government to freeze funds in the corporate and personal bank accounts of alleged tax cheats, Finance Minister Mohamed Maait said yesterday, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":604865,"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":[309,72,276,180,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-customs","tag-enterpriseam","tag-finance-ministry","tag-legislation","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"b5451d37-3eb0-4574-9cad-d634b7caf990","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2018\/12\/248.jpg","photo_position":"above","related_issue":[604856],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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After having reached out to the Finance Ministry,\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":603091,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-gives-15-government-entities-until-end-of-month-to-disclose-special-funds\/","url_meta":{"origin":604864,"position":1},"title":"FinMin gives 15 government entities until end of month to disclose special funds","author":"enterpriseam admin","date":"15 April 2019","format":false,"excerpt":"FinMin issues ultimatum to gov\u2019t entities on disclosing special funds before month-end: The Finance Ministry has issued formal requests to 15 government entities with some 750 bank accounts connected to their \u201cspecial funds\u201d to disclose these accounts to the government for regulatory oversight, Al Mal reports. The ministry has threatened\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":625890,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/finmin-seeks-access-to-companies-bank-data-under-proposed-amendments-to-the-income-tax-act\/","url_meta":{"origin":604864,"position":2},"title":"FinMin seeks access to companies\u2019 bank data under proposed amendments to the Income Tax Act","author":"enterpriseam admin","date":"26 August 2018","format":false,"excerpt":"EXCLUSIVE- FinMin seeks access to corporate bank data under proposed amendments to the Income Tax Act: Forthcoming amendments to the Income Tax Act would allow the Finance Ministry to check up on company accounts to make sure they\u2019re paying their income taxes, Tax Authority boss Emad Samy told Enterprise. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":600678,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/06\/parliament-approves-egypts-new-bank-tax-treatment\/","url_meta":{"origin":604864,"position":3},"title":"Parliament approves Egypt\u2019s new bank tax treatment","author":"enterpriseam admin","date":"6 February 2019","format":false,"excerpt":"LEGISLATION WATCH- House approves new bank tax treatment: The House of Representatives\u2019 general assembly approved yesterday proposed amendments to the Income Tax Act that would change how banks and corporations account for income from investments in government debt, according to state news agency MENA. The measure will require banks and\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":634139,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/tax-authoritys-seizure-of-gths-bank-accounts-relates-to-2005-tax-dispute-source\/","url_meta":{"origin":604864,"position":4},"title":"Tax Authority\u2019s seizure of GTH\u2019s bank accounts relates to 2005 tax dispute -source","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"An administrative freeze on Global Telecom Holdings (GTH)\u2019s bank accounts is related to a 2005 tax dispute, a source at the Tax Authority told Al Mal. The hold on EGP 990 mn in GTH\u2019s Egyptian bank accounts is \u201cnormal procedure\u201d the source says. GTH had said it was going to\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":621599,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/house-backs-legislation-to-tax-social-media-ads\/","url_meta":{"origin":604864,"position":5},"title":"House backs legislation to tax social media ads","author":"enterpriseam admin","date":"13 November 2018","format":false,"excerpt":"House backs legislation to tax social media ads: MPs will support the Finance Ministry\u2019s drive to collect taxes on domestic purchases of social media advertising, said House spokesperson Salah Hassaballah, according to Al Mal. The move will require some change to legislation, the story suggests, and comes after we reported\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/604864","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=604864"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604864\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/604856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/604865"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=604864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=604864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=604864"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=604864"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=604864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}