Sawiris Family Finally Back Home As Tax Disputes Settled

Members of Sawiris family have arrived at Cairo International Airport on Friday coming from France, after a travel ban imposed by the country’s prosecutor-general had been lifted. The travel ban had been lifted after Orascom Construction Industries S.A.E. (OCIC) had reached a settlement agreement with the Egyptian Tax Authority (ETA) to end over 10-month disputes over EGP 14 billion tax claims.

Onsi Sawiris, Yousria Nassef Louza alongside Nabuib Sawiris, Lana Naguib, Yasmina Naguib and Felene Naguib were among the family members who came back to home on Friday.

Orascom Construction Industries (OCI ), a subsidiary of OCI N.V., announced on April 30 that it will pay the Egyptian Tax Authority (ETA) ten installments during 2013 – 2017 totaling EGP 7.1 billion less EGP 182 million in existing tax credits to end a dispute over tax claims for the years 2007 to 2010.

Later on the same day, Prosecutor-General Talaat Abdullah ordered ending a travel ban on Nassef and his father Onsi Sawiris.