November 1, 2017 / 3:08 PM / a year ago

Egypt moves to extend tax dispute reform law for two years

CAIRO, Nov 1 (Reuters) - Egypt’s government has approved extending a law designed to make settling tax disputes easier, its finance minister said on Wednesday, as the country pushes to lure back foreign investors driven away by a 2011 uprising.

The extension, which must be voted on by parliament, is for two years, Amr El Garhy said.

Introduced in August 2016, the law shifted responsibility for hearing such disputes from the courts to committees of independent experts.

More than 6,000 cases worth about 47 billion Egyptian pounds ($2.67 billion) were in the court system when the new law came into effect.

Since then, disputes over 15 billion Egyptian pounds have been settled, said deputy finance minister for tax policies Amr El-Mounir.

$1 = 17.6100 Egyptian pounds Reporting by Moemen Abdelkhalek and Ehab Farouk; Writing by Arwa Gaballa; editing by John Stonestreet

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