Wednesday, December 30, 2009

Algeria - Orascom appeals USD 596m tax claim

[ame] Orascom Telecom, the largest mobile phone operator in the Middle East and Egypt's first multinational company, has filed an appeal with Algerian tax authorities for the $596m allegedly owed by its Algerian subsidiary, Orascom Telecom Algeria or 'Djezzy'. Algeria claims that during the 2005-2007 period, the mobile operator failed to keep correct tax records and must now pay back taxes; OT denies the claim, stating that it was exempt from taxes during the period in question.

Orascom appeals $596m tax claim

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