Investment Minister approves amendments to FX losses treatment for tax purposes
Minister of Investment, Dalia Khorshid, has approved an amendment to how FX losses are treated for tax purposes. The amendment introduced an additional option to the standards that allow companies to recognise changes in valuations that preceded the EGP float, outlines how USD debt will be translated. The changes will only be applied this fiscal year, and is not mandatory, Egyptian Financial Supervisory Authority (EFSA) Head, Sherif Samy, said. (Al Mal)
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