Minister of Finance Dr. Youssef Boutros Ghali has issued directives for the immediate return of amounts in excess of due taxes to respective  taxpayers on their real estate returns and which have not ...

Minister of Finance Dr. Youssef Boutros Ghali has issued directives for the immediate return of amounts in excess of due taxes to respective  taxpayers on their real estate returns and which have not been included in the tax base in the former tax law.  Tax returns on real estate will be accounted for as of June 2005. Amounts due taxpayers will be mailed by form of cheques.  Tax Authority Chief Mahmoud Mohamed Aly has made his statements at an expanded meeting with  tax officials in the sales and tax departments and which have been recently merged into one entity.  The meeting has taken place  in Alexandria.  He said the procedures are meant to encourage taxpayers’ confidence and transparent dealings at both ends. He said contacts are underway with commercial and industrial chambers as well civil servants  in efforts to end distputes in the wake of unprecedented success in the collection of taxes under the new tax law.  He reiterated that self assessment will be the basis of future dealings until sample testing proves otherwise. (source: Al-Akhbar)