The finance ministry is engaging with nearly 1,000 tax disputes with several lenders over different taxation issues.
The Federation of Egyptian Banks (FEB) will sign an agreement with the Egyptian Tax Authority (ETA) to settle the stamp tax dispute.
Dispute will be tackled separately and tax dues will be allocated from banks in accordance with the rules of the agreement.
A separate agreement on commercial profits is being discussed as well, added Fathy. Companies’ deposits will be subject for the stamp tax under the new agreement, while individuals will be exempted, reported local daily, Enterprise.