Head of the Egyptian Tax Authority will issue regulations and simplified procedures aimed at encourage taxpayers who have not yet wrapped suspending tax returns for the period prior to 2005 to be able...

Head of the Egyptian Tax Authority will issue regulations and simplified procedures aimed at encourage taxpayers who have not yet wrapped suspending tax returns for the period prior to 2005 to be able to do so.  He called on taxpayers who have found some difficulties to consult with neighboring tax districts for closure. He said he issued directives to all tax districts to speed up the closure of pending files whether by carrying out auditing or by settlement on tax returns up to October 31st, 2004 in order to speed up the implementation of the new tax law on a clear new page without suspended issues.  He said the aim is to implement a new tax law which is free of the old taxation idea and which is bent on mutual trust where taxpayers are capable of trusting their own estimates and can declare true commitment to pay their dues.  Head of the tax authority has also announced that the sporadic sample auditing will be carried out on 20% of the submitted tax returns. (source: Al-Akhbar)