Orascom Telecom's tax appeal rejected by Algeria

Orascom Telecom has said its appeal against claims its Algerian unit, Djezzy owed back taxes and penalties from 2004 to 2007 has been rejected by Algerian authorities, Reuters has reported. The company said it 'intends to appeal the rejection according to the Algerian rules and regulations which dictates a three-tiered appeal process'. To do so it will have to pay 20% of the remaining balance of the taxes and penalties the Algerian government claims, or around $110m, which Orascom said it will do shortly. Orascom paid $120m in December in order to file an appeal against a $597m tax bill which Algeria says Djezzy owes for 2005-2007, according to Reuters.