Egypt’s Administrative Control Authority (ACA) has arrested both the director and owner of a well-known accounting and auditing firm for offering a bribe to an Egyptian Tax Authority (ETA) official.
Commenting on the incident, Minister of Finance Mohamed Maait said that the pair offered a large bribe to the official, in return for reducing taxes owed by a major client of the company.
In a statement on Tuesday, Maait clarified that the ETA informed the ACA of the attempted bribe, where the latter advised the targeted official to pretend to go along with the bribe offer.
The ACA took all legal measures necessary until the briber was caught red-handed, along with the owner of the accounting and auditing office. Both have been referred to the prosecution, which ordered their detention pending investigation.
Maait applauded the ETA for not covering up corruption and reporting it immediately. He also paid tribute and noted his appreciation to the ACA employees.
The minister stressed that the Egyptian government is determined and serious in combating tax evasion in all its forms, and enforcing the law.
He stressed that the government does not tolerate any attempts to deprive the state of its rights, but rather continues to face this by taking all legal deterrent measures.
Maait also highlighted that all accountants and auditors should take all possible measures to stamp out the corrupt few, and stressed that the Ministry of Finance will not tolerate any accountant or auditor who gets involved in such corruption.