Orascom Telecom pays USD 40 mln in tax after external audit

News Wireless Egypt 20 APR 2012
Orascom Telecom pays USD 40 mln in tax after external audit
Egyptian operator Orascom Telecom (OT) said its 2011 net profit has dropped by a further USD 40 million after external auditors requested a change in the calculation of the corporate tax charge on its financial statements, Ahram has reported. The company's board of directors approved the change, which slashes its net income attributable to shareholders to USD 621 million, OT said.

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