By: Ahmed Allam
Cairo – Mubasher: The Egyptian Tax Authority (ETA) will not be authorised to check companies’ bank accounts, the governor of the Central Bank of Egypt (CBE) said.
“The CBE will not allow this to happen,” Tarek Amer told Mubasher in response to the law amendment proposed by the ETA to enable the finance ministry to check firms' bank accounts.
It is worth noting that the ETA had amended Article no. 99 of the income tax law in a bid to allow the finance ministry to scrutinise banking accounts owned by investors who present incorrect income statements.
Egyptian finance minister Mohamed Maait previously said that the new tax law aimed to unify and simplify regulations in order to abolish taxation bureaucracy.
Translated by: Mai Ezz El-Din
