The United Bank has managed to end all its tax disputes of EGP 100m with the Egyptian Tax Authority (ETA), closing about 43 files and 56 cases in courts.
Recently, the bank joined the protocol held between the ETA and the Federation of Egyptian Banks (FEB) in order to end all stamp duty disputes which go back to over 30 years.
According to Ashraf El-Kady, chairperson of the bank, the cooperation with the tax authority over the stamp duty issue was managed with care, and a clear objective, to end all disputes, and fulfill the bank’s obligations towards the state and citizens.
El Kady praised the efforts of the authority to facilitate all settlement procedures, in appreciation of the effective role that the bank plays in building the national economy, and supporting comprehensive development, noting that the bank is always keen on benefiting from the several initiatives which were launched by the state and the minister of finance to end all tax disputes.
