{"id":664642,"date":"2025-05-05T00:00:00","date_gmt":"2025-05-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/05\/finmin-mulls-three-month-deadline-extension-for-pre-2020-tax-dispute-requests\/"},"modified":"2025-05-05T00:00:00","modified_gmt":"2025-05-05T00:00:00","slug":"finmin-mulls-three-month-deadline-extension-for-pre-2020-tax-dispute-requests","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/05\/finmin-mulls-three-month-deadline-extension-for-pre-2020-tax-dispute-requests\/","title":{"rendered":"FinMin mulls three-month deadline extension for pre-2020 tax dispute requests"},"content":{"rendered":"

G<\/strong>ood m<\/strong>orning, all. <\/strong>After a slower start to the week, the newsflow is back in full swing. Logistics leads today\u2019s issue after AD Ports inked an agreement to set up an industrial and logistics zone in East Port Said. We also have news of what went down at the Egyptian-Moroccan Investment Forum and the latest net foreign assets figure. <\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>Cairo is in for another sunny day, with a high of 28\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little cooler in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 16\u00b0C.<\/p>\n

** DID YOU KNOW that we cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at how the government and private sector are increasingly focusing on accreditation as a key tool to enter local markets and expand abroad. Check out the story here<\/a>. <\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> The Fin<\/strong>ance Ministry is looking into extending its 12 May deadline for pre-2020 tax <\/strong>dispute requests by three months<\/strong>, a government source told EnterpriseAM. The extension request is currently under review by the ministry, which is looking to ensure that taxable entities receive the maximum amount of benefits from the government\u2019s new tax facilities, the source said.<\/p>\n

REMEMBER-<\/strong> The Finance Ministry is rolling out<\/a> measures to make it more attractive for businesses to settle disputes dating to before 2020, including by paying a fixed percentage of taxes owed. Businesses will be able to make those payments in four installments over a 12-month period without paying late fees or additional interest charges. This comes as part of a larger push by the Finance Ministry to widen the tax base.<\/p>\n

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DATA POINT- <\/p>\n

<\/a> A record debt <\/strong>issuance target for 4Q FY 2024-25? <\/strong>The Central Bank of Egypt has plans to issue a record EGP 2.2 tn in t-bills and bonds during the fourth quarter of the current fiscal year, marking a 9.7% q-o-q increase, to help cover the budget deficit, Asharq Business<\/a> reports. Around 88% of the issuances \u2014 roughly EGP 1.9 tn \u2014 will be short-term debt.<\/p>\n

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HAPPENING TOMORROW-<\/p>\n

<\/a> Can non-oil <\/strong>private sector activity bounce back? <\/strong>S&P Global will release Egypt\u2019s PMI data for April tomorrow \u2014 the first such release since Trump's sweeping US tariff hikes. The country\u2019s PMI slipped back into<\/a>contraction territory<\/a> in March after two months of modest growth, dragged down by weakening demand and slower output. With Trump\u2019s tariffs beginning to ripple through global markets, April\u2019s data will shed light on how it all has impacted Egypt\u2019s private sector. <\/p>\n

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CIRCLE YOUR CALENDAR- <\/p>\n

Mark your<\/strong> calendars for the <\/strong>2025 Pan Arab Junior and Ladies Golf Championship<\/a><\/strong>, taking <\/strong>place in Cairo between 7-10 May<\/strong> at Madinaty and Katameya Dunes. The tournament is open to players from members of the Arab Golf Federation across multiple age groups and includes a ladies\u2019 category. The event will be open to spectators with a golf festival and other activities to draw in new audiences.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

It\u2019s a quiet day in the global press<\/strong>, with no one story dominating the headlines.<\/p>\n

A missile fired by Yemen\u2019s Houthis <\/strong>landed<\/a><\/strong> near Israel\u2019s main international airport<\/strong>, causing injuries and disrupting flights after defense systems failed to interrupt the attack. The group has ramped up its missile attacks recently in response to a blockade<\/a> on Gaza that saw no food, fuel or medicine enter the enclave for more than 60 days.<\/p>\n

PM Netanyahu <\/strong>vowed an extensive response<\/strong> to the Houthi attack<\/strong>, coinciding with wider plans by the military to call up thousands of reservists<\/a> and \u201cgo deeper\u201d into Gaza. Meanwhile, US President Trump said<\/a> that Iran will be held responsible for any further attack by the militant group.<\/p>\n

ALSO WORTH READING THIS MORNING-<\/strong><\/p>\n