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Finance: Lifting the administrative detention of more than 3,000 financiers to help them overcome the “Corona” plight


The Ministry of Finance confirmed that, in implementation of presidential directives, the administrative seizure of more than 3,000 companies of financiers, registered and taxpayers was lifted during the period from the end of April 2020 until the end of July 2021, as soon as the value of the prescribed percentage from 1% to 10% of the income tax and value added was paid. With a total estimated at 159.7 million pounds, within the framework of the facilities aimed at expediting the termination of tax disputes; In order to support the economic sectors in order to be able to overcome the plight of the emerging “Corona” virus; In a way that contributes to the continuation of the production cycle with full compliance with the precautionary measures and preventive measures adopted; To meet the needs of citizens and preserve the gains made by the economic reform program for the national economy, he called on financiers, registrants and taxpayers to take advantage of this initiative, and apply to the Tax Authority to lift any administrative seizure, in accordance with the established controls.

 

The ministry said that the seizure resulting from the tax assessment was lifted for not challenging the legal deadline on the established tax forms; For non-receipt of these forms or their return to the authority, for 1,119 financiers, registrants and taxpayers upon payment of 1% of the value of the disputed tax origin, whether in “income tax or value added tax”, with a total value of 55.5 million pounds, with the appeal open again To the financier or the registrar, pointing out that the seizure resulting from the payable indebtedness has been lifted, whether by the issuance of a decision of an internal committee, an appeal committee, a court ruling, a dispute settlement committee, or a committee to review the final assessment, in the income tax or value-added tax For 1187 financiers, registrants, and taxpayers, immediately upon payment of 5% of the value of the original tax payable, with a total of 58.1 million pounds, with the remaining outstanding debts due, in light of the number of tax years or in agreement with the financiers, registrants and taxpayers in accordance with the provisions of the law.

 

The ministry added that the seizure resulting from the payable indebtedness has also been lifted from 700 financiers, registrants and taxpayers who paid 10% of the original value of the income and value-added tax, payable with a total of 46.1 million pounds, with the rest of the debt due in installments, in light of the number of years tax or in agreement with the taxpayers, registrants and taxpayers in accordance with the provisions of the law.

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