Egypt

CBC chairman accused of tax evasion, banned from travel

An official source at the Ministry of Investment on Thursday said the Finance Ministry filed a complaint against CBC satellite channels owner Mohamed al-Amin for allegedly evading some LE427 million in taxes by selling his shares in a real estate and tourism development company.

Amin has been banned from travelling outside Egypt.

The source did not specify when the complaint was filed, but it is likely to have been on Wednesday evening.

Amin’s travel ban was at the request of the Tax Authority, the source added.  

CBC, home to popular comedian Bassem Youssef, has repeatedly criticised President Morsy’s performance during his first year as president.

Earlier on Thursday, Amin announced he would pursue legal action against Morsy after the Egyptian leader accused him of tax evasion in his Wednesday evening speech.

In a phone-in with a talk show on CBC, al-Amin said: "The content of Morsy's speech is not suitable for a president and constitutes an incitement to kill Mohamed al-Amin."

Amin added that he was notified of the decision banning him from travel, but was not told what allegations he faced. "I am in Egypt and will never leave it," he said.

In his speech on Wednesday, Morsy had said: "There are honest businessmen in Egypt and there are [on the other hand] Mohamed al-Amin, who owes taxes and whose channel harasses us and Ahmed Bahgat who owes banks LE3 billion and whose channel also harasses us. Nobody will escape justice."

Islamists have repeatedly accused Egypt's privately-owned media of smearing the regime and inciting civil disobedience against it.

The first year of Morsy’s presidency has seen several lawsuits against journalists and media professionals – including Tahrir TV anchor Dina Abdel Fattah and El Bernameg host Bassem Youssef – accusing them of bad-mouthing the president and insulting Islam.

Edited Translation from Al-Masry Al-Youm

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