Legal Proceedings Report • Sep 16, 2014
Legal Proceedings Report
Open in ViewerOpens in native device viewer
Amsterdam, the Netherlands / 16 September, 2014 12:30 PM
OCI N.V. (NYSE Euronext: OCI) announced today that the final session of the Egyptian Tax Authority's (ETA) Independent Appeals Committee, the responsible body overseeing the tax dispute between OCI N.V.'s subsidiary Orascom Construction Industries (OCI S.A.E.) and the ETA, was held today. Final submissions were presented to the Appeals Committee, which is expected to issue a final judgement on the case on 28 October 2014.
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.
OCI N.V. is a global producer of natural gas-based fertilizers & industrial chemicals and an engineering & construction contractor based in the Netherlands. The Fertilizer & Chemicals Group produces nitrogen fertilizers, methanol and other natural gas based products, serving agricultural and industrial customers from the Americas to Asia. We rank among the world's largest nitrogen fertilizer producers with current production capacity of nearly 7 million metric tons in the Netherlands, the United States, Egypt and Algeria. The Engineering & Construction Group provides international engineering and construction services primarily focused on infrastructure, industrial and highend commercial projects in the United States, Europe, the Middle East, North Africa and Central Asia for public and private clients. It ranks among the world's top global contractors. OCI N.V. employs approximately 55,000 people in 35 countries and is listed on Euronext in Amsterdam.
Hans Zayed Director Email: [email protected]
Erika Wakid Email: [email protected]
Tel: +31 (0) 6 18 251 367
For additional information on OCI N.V.:
OCI N.V. stock symbols: OCI / OCI.NA / OCI.AS / OCINY
Mijnweg 1, 6167 AC Geleen, The Netherlands
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.