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Egypt Amends Unified Tax Procedures Law Regarding Penalties

|Approved Changes|Egypt
Egypt

Egypt recently published amendments to the Unified Tax Procedures Law, including changes to different tax penalties. Key points include:

  • Late payment penalties are limited to 100% of the original tax due;
  • An out-of-court settlement mechanism is provided, allowing taxpayers to pay a reduced indemnity to avoid criminal prosecution in tax matters, which is set at between 50% and 200% of the legal…

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