Saturday 04 September 2021
Books – Mustafa Eid:
Ahmed Kjok, Deputy Minister of Finance for Financial Policies, said that a ministerial decision was issued to form a committee to control the administrative reservation system to study the requests received from the Egyptian Tax Authority, the Customs Authority, and the Real Estate Tax Authority to sign the administrative seizure in accordance with the provisions of the Administrative Seizure Law No. 308 of 1955, in order to obtain receivables from the debtors party.
The Deputy Minister of Finance added in a press statement issued today, Saturday by the ministry, that the state is interested in achieving tax justice, achieving economic development, facilitating investors, removing all obstacles in front of them and solving the problems they face in a friendly manner, at the same time preserving the right of the state’s public treasury. Facilitations for the expeditious settlement 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.
Kjok explained that this committee studies seizure requests for investment projects established in accordance with the provisions of the Investment Law, regardless of the amount owed to the interest, as well as cases in which the value of the amounts owed to the interest is five hundred thousand pounds or more, as well as cases that the Minister of Finance or the head of the department sees presented to the committee.
He clarified that none of the revenue interests may make any administrative seizures on the previous cases before submitting to this committee.
According to the Deputy Minister of Finance, the committee is responsible for setting the governing controls that the relevant authority adheres to when it signs the administrative seizure for the cases in which it is concerned, adding that the committee’s goal is to create a guide that clarifies the governing controls on the basis of which the committee signs the seizure, as well as sending this guide to the The Authority to circulate to all its administrative units and missions affiliated to it.
The Deputy Minister of Finance for Financial Policies confirmed that “executive instructions No. (46) for the year 2020 have been issued regarding the mechanism for lifting the seizure on financiers and registrants, through which the financier or the registrar can be taxed, whether the seizure is movable or what is reserved for the debtor with a third party by an interest Taxes that the seizure is lifted if the financier or the registrar is committed to paying 1% of the value of the debt with which it is seized, if the debt is based on an assessment for lack of appeal within the legal time, or if the debt is based on an assessment for lack of appeal based on the notification in the face of the prosecution, or An announcement on the board as a result of the return of tax forms marked closed, provided that the door for appeal is opened again for the taxpayer or the registrant.
He added, that the seizure that occurred in accordance with a debt that is payable based on a decision of an internal committee or an appeal committee, even if it was appealed against, or a court ruling even if it was appealed against, or the committee for ending disputes or the decision of the committee to review the final assessment, as soon as the financier or registrar pays a percentage 5% of the value of the debt with which it is seized, with an agreement to pay the remaining 95% of the debt in installments over a period of no less than two years, or according to what is agreed upon with the taxpayer.
Kojak called on the financiers, registrants and those charged with accelerating to benefit from the initiative to lift the seizure, and to apply to the Tax Authority to lift any administrative reservation in accordance with the established controls for that, before the end of the current year.