United Bank ends tax dis­putes of EGP 100m

Bank keen on solv­ing all dis­putes of stamp duty, ful­fill obli­ga­tions to­wards state, cit­i­zens, says El-Kady

The Daily News Egypt - - News - By Hos­sam Mounir

The United Bank has man­aged to end all its tax dis­putes of EGP 100m with the Egyp­tian Tax Au­thor­ity (ETA), clos­ing about 43 files and 56 cases in courts.

Re­cently, the bank joined the pro­to­col held be­tween the ETA and the Fed­er­a­tion of Egyp­tian Banks (FEB) in or­der to end all stamp duty dis­putes which go back to over 30 years.

Ac­cord­ing to Ashraf El-Kady, chair­per­son of the bank, the co­op­er­a­tion with the tax au­thor­ity over the stamp duty is­sue was man­aged with care,and a clear ob­jec­tive, to end all dis­putes, and ful­fill the bank’s obli­ga­tions to­wards the state and cit­i­zens.

El Kady praised the ef­forts of the au­thor­ity to fa­cil­i­tate all set­tle­ment pro­ce­dures, in ap­pre­ci­a­tion of the ef­fec­tive role that the bank plays in build­ing the na­tional econ­omy, and sup­port­ing com­pre­hen­sive de­vel­op­ment, not­ing that the bank is al­ways keen on ben­e­fit­ing from the sev­eral ini­tia­tives which were launched by the state and the min­is­ter of fi­nance to end all tax dis­putes.

Ashraf El-Kady, chair­per­son of The United Bank

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