Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Central Bank of Egypt will not allow the disclosure of bank accounts

    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 267036
    Join date : 2012-12-21

    The Central Bank of Egypt will not allow the disclosure of bank accounts Empty The Central Bank of Egypt will not allow the disclosure of bank accounts

    Post by Rocky Sun 26 Aug 2018, 3:51 pm

    The Central Bank of Egypt will not allow the disclosure of bank accounts
    Posted by Reuters
     
    Date: 9:41 pm, August 26



    The Central Bank of Egypt (CBE) said on Sunday that the bank would not allow the disclosure of bank accounts to companies and individuals after comments by the head of the tax authority that the department had submitted a proposal to amend the law to allow the finance minister to disclose accounts to reduce tax evasion.
    "We submitted a proposal to amend Article 99 of the Income Law to allow the Minister to disclose the bank accounts in a way that does not contradict the Central Bank Law," the bank's chief of staff, Emad Sami, told Reuters by telephone earlier in the day.
    But central bank governor Tariq Amer told Reuters in an e-mail that "the central bank will not allow it."




    Sami said later in a press release of the Ministry of Finance, issued hours after the violent reaction from the Governor of the Central Bank, that his interest respects the law «secrecy of bank accounts as it is a guarantee for investors and all dealings with banks and this is the inherent right of the Central Bank. There are procedures and legal mechanisms to enable the tax authorities to face the evasion of tax and related disclosure of bank accounts ».
    "What has been published ... in this regard has been formulated contrary to what is meant by the statement, and that this insult would damage the tax revenues and undermine the stability of the banking sector, which is a major engine of the national economy," Sami said in the statement.
    Egypt seeks to increase its tax revenues by expanding the base of financiers and trying to integrate the informal economy into the formal economy.
    Egypt's tax revenue rose 36 percent to 628 billion pounds ($ 35.18 billion) in fiscal year 2017-2018, which ended on June 30.
    Sami said to Reuters earlier today that the goal of the proposal is "to reduce tax evasion ... We will not ask to disclose the accounts of all people and companies, but to provide unrealistic data, then only we will match it with his bank account."
    Sami said that under the proposed amendment «all parties are obliged to allow the taxpayer to see the bank accounts after the approval of the Minister of Finance».
    A Finance Ministry official told Reuters on condition of anonymity that such a move would require amending an article in the central bank law to allow the finance minister to look at corporate and individual bank accounts. But Sami ruled out this in his comments to «Reuters».
    Sami said in remarks to the Enterprise newsletter earlier today that the proposed amendments «a proactive step for a comprehensive amendment of the tax law in full next year to cope with the current situation», including the intensification of penalties for tax evasion and seizure of materials for tax exemptions but without increasing income taxes .


    http://www.alghad.tv/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%84%D9%86-%D9%8A%D8%B3%D9%85%D8%AD-%D8%A8%D8%A7%D9%84%D9%83%D8%B4%D9%81-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%AD%D8%B3/

      Current date/time is Thu 28 Mar 2024, 5:14 am