OCI Final Tax Dispute Ruling Delayed to November 4

The final ruling related to Orascom Construction Industries (OCI)’s ongoing tax dispute with Egypt’s Tax Authority was postponed until Next November 4, parent company OCI N.V. announced.
The company said earlier final submissions were presented to the Appeals Committee on September 16.
This committee was originally reviewing OCI S.A.E.’s tax returns, but the process was terminated in 2012 by the previous administration. Following a number of meetings with the Egyptian government, the tax dispute liability case was referred back to the committee, which held its first session in July 2014.
All previous preliminary rulings related to the tax dispute have been appealed and are pending the Appeals Committee’s final ruling on 28 October 2014.