Egypt recently published amendments to the Unified Tax Procedures Law, including changes to different tax penalties. Key points include:
- Late payment penalties are limited to 100% of the original tax due;
- An out-of-court settlement mechanism is provided, allowing taxpayers to pay a reduced indemnity to avoid criminal prosecution in tax matters, which is set at between 50% and 200% of the legal fine;
- In case of ongoing legal proceedings, taxpayers are allowed to negotiate a compensatory payme…