The Egyptian Tax Authority has decided to extension the deadline for the submission of tax return until May 1st.  Head of the Egyptian Tax Authority Mahmoud Mohamed Aly has called on companies to comm...

The Egyptian Tax Authority has decided to extension the deadline for the submission of tax return until May 1st.  Head of the Egyptian Tax Authority Mahmoud Mohamed Aly has called on companies to commit to precision in delivered data in order to avoid tough penalties.  He said fines may be as high as 80% of the value of tax and a fine of 5% will be extended on the amounts which have not been written down in the tax return.  He also said that the fine will be 15% on amounts not reported if those amounts are equivalent to 50% of the due tax in addition to a 10% fine of the value of tax which has not been listed if the amount is 50% of the value of due tax (source: Alwafd)