CAIRO: The Public Prosecution acquitted Orascom Construction Industries, listed in the Egyptian Exchange, and its officials of a tax evasion claim, the company announced in a statement released Tuesday.
The prosecution decision number 21 for 2014 ordered the freezing of the case, ruling out that the company was involved in tax evasion, violation of public funds, or capital market crimes.
“Orascom Construction Industries is greatly keen on committing to the laws and bylaws in Egypt and all other countries where it runs its business and activities,” added the statement. “The company is considered one of the top tax payers in Egypt and everybody witnesses its long-term commitment to pay any funds owed to the state, including taxes or fees.”
Originally published in Youm7.