6 October Association Reschedules Tax Arrears Of 20 Factories

6 October Investors Association has rescheduled the tax arrears of 20 factories in Egyptian Tax Authority, after they were about to be suspended due to accumulating the debts.

Magdy Abdel Moneim, Head of 6 October Investors Association, told “Amwal Al Ghad” that rescheduling the tax arrears made by a committee, which formed by some members of the association and government’s officials. The factories paid parts of the arrears and the rest sums will be paid on installments, in a way that don’t impede the production wheel.

He added that the committee always holds to discuss treating scores of stalled cases with tax authority, avoiding any crisis, as some factories close down due to decline their incomes amid the instability state that the country witnesses.