Tax Authority chairman  Mahmoud Mohamed Aly urged taxpayers to reap benefits from tax exemptions on due amounts on  income and sales taxes  from earlier periods and pay up.  In accordance with law 91/...

Tax Authority chairman  Mahmoud Mohamed Aly urged taxpayers to reap benefits from tax exemptions on due amounts on  income and sales taxes  from earlier periods and pay up.  In accordance with law 91/2005, taxpayers  may be exempt from paying general tax and sales tax on years prior to the introduction of the new tax law provided taxpayers register at the sales tax department prior to June 10th, 2006. Disputes which have erupted prior to October 1st, 2004 can also be concluded within one year from the issue date of the new law provided the taxpayer pays a percentage of due tax on disputed amount. Taxpayers are also urged to submit requests at specialized districts prior to June 10th to rectify or clear positions vis-à-vis  disputed amounts. Mr. Aly called on taxpayers to benefit from the grace period extended by the tax authority prior to June 10th which is only days away to avoid cumbersome procedures involving tracking down tax evaders. ( source : Al-Ahram)