Algiers: Algerian authorities will probably turn down Orascom Tele-com Holding's request for a re-evaluation of $230 million (Dh844 million) in taxes imposed on its unit Djezzy, an official at the Finance Ministry said.
State-run Algerie Presse Service on November 22 cited Tax Director General Abderahmane Raouia as saying that officials were reviewing the second tax appeal submitted by Orascom Telecom for the fiscal years 2008 and 2009.
The Cairo-based company has said it may seek international arbitration by the second quarter of 2011 unless it can resolve the dispute. Manal Abdul Hamid, an Orascom Telecom spokeswoman, didn't immediately comment.
Separately, Algeria will announce the winner of a tender to evaluate Djezzy by mid-December as part of the government's plan to buy the company, according to the Finance Ministry official, who declined to be identified because the information isn't public. Ten banks have made offers ranging from 1.8 million euros (Dh 8.7 million) to $14.3 million to evaluate the company with the process taking between two months and six months.
