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Egypt

Convert Your CIB Statement for Egyptian Tax Filing

The Egyptian Tax Authority wants gross income, deductible expenses, and tax already paid — all visible in your CIB statement. Pull it into Excel in seconds.

Convert your CIB statement

Why CIB customers need a structured export at tax time

CIB is the bank of choice for Egypt's upper-middle-class professionals, multinational employees, and growing companies. Statements carry a mix of EGP salary credits, USD inbound wires, POS spend at VAT-registered merchants, and quarterly corporate tax debits. The Egyptian Tax Authority (ETA) wants all of it categorised.

Egypt's tax rules are layered: 14% VAT on most goods and services, 22.5% flat corporate income tax, progressive personal income tax up to 25%, and 20% withholding on savings interest deducted at source. A converted CIB statement lets you separate gross income, deductible expenses, VAT-inclusive spend, and pre-paid tax in one Excel pass.

How CIB statements present tax-relevant entries

CIB statements use bilingual labels: Arabic-dominant in the description column with English equivalents where applicable. Salary appears as "Salary" or "راتب". POS spend appears as "POS مشتريات" with the merchant name. Corporate tax payments to the ETA appear as outbound transfers to ETA accounts. Interest on savings is credited net of 20% withholding.

Post-2022 EGP devaluations created statements where USD-denominated transactions look enormous in EGP terms. Don't read these as windfalls — they are FX conversions, not income. Kashfbank tags FX Purchase rows separately so they don't inflate your gross.

What to extract for an ETA return

Match what the ETA expects on the personal income form, the corporate return, and the VAT return. CIB's statement format makes most lines extractable; FX entries need a second look.

  • All "Salary" / "راتب" credits — primary personal income line
  • Inbound "حوالة وارد" — foreign service income, taxable in Egypt
  • POS مشتريات at VAT-registered merchants — input VAT for business filers
  • Interest credits — already net of 20% withholding, gross-up required
  • ETA outbound payments — pre-paid tax to subtract from final liability

Commercial International Bank (CIB) statement format

Professionally formatted bilingual PDF (Arabic and English). Clear columns: date, transaction description, debit, credit, EGP balance. Account summary header shows account number, IBAN, statement period, opening/closing balance. Both current account and credit card statement formats are supported. EGP two-decimal formatting. Post-2022 statements may show large balance swings due to EGP devaluations affecting FX-linked entries. Meeza card transactions appear with the Meeza network label.

LabelMeaning
إيداع نقديCash deposit at branch or CDM
POS مشترياتPoint-of-sale purchase (card payment at merchant)
تحويل ATMTransfer initiated via ATM
Smart WalletMobile wallet transaction (CIB Smart Wallet or Meeza Digital)
SalaryEmployer salary deposit (WPS or direct credit)

Egypt specifics for this use case

Egyptian corporate tax at 22.5% requires quarterly advance payments; converted statements showing quarterly income help CPAs calculate accurate installment amounts to avoid penalties.

How to do it — step by step

1

Pull the right period from CIB Mobile

Egyptian personal returns cover Jan–Dec. Corporate returns may be fiscal or calendar. Request a CIB statement covering your full filing period, including both EGP and USD accounts if you hold both.

2

Upload and confirm currency tagging

Kashfbank tags each row with its currency. EGP statement rows stay EGP; USD account rows stay USD. No silent FX conversion.

3

Filter by category for each form

Income lines for the income section. POS مشتريات for the VAT input section. ETA outbound payments for the pre-paid tax credit. Interest with the gross-up calculation.

4

Hand off to your accountant

Share the CSV with your ETA-registered accountant. The standard column layout (Date, Description, Debit, Credit, Balance, Category) imports cleanly into the tools Egyptian accounting practices use.

Common challenges

  • •Fiscal year mismatch: Saudi Hijri vs. Gregorian calendar in statements from the same bank
  • •Pre/post-VAT transaction splitting (UAE pre-June 2023 vs. after for corporate tax)
  • •Scanned statements from older accounts where OCR confidence drops on faded print
  • •Multi-entity accounts where personal and company transactions share one IBAN

Frequently asked questions

Does CIB show the 20% interest withholding on savings?

CIB credits interest net of withholding — the 20% is deducted at source. To report gross interest, divide the credited amount by 0.80. Kashfbank preserves the net figure exactly as printed; the gross-up is a manual calculation.

My CIB statement spans the March 2024 EGP devaluation. How does that affect the return?

Each transaction stays at its transaction-date value. The ETA looks at amounts at the time each entry occurred, not at a year-end exchange rate. Kashfbank preserves the original transaction-date EGP figure on every row.

Can the CSV import directly into Egyptian accounting software?

Locally developed tools like Bisan and MS Dynamics, plus QuickBooks for international clients, accept the standard CSV column layout. Some require small adjustments (date format, debit/credit sign conventions) which most accountants do in under a minute.

I pay quarterly corporate tax advances. Can I see those on the statement?

Yes. Quarterly advance payments to the ETA appear as outbound transfers with ETA as the beneficiary. Filter the Description column for ETA or the relevant payment reference to surface them.

Other use cases for Commercial International Bank (CIB)

Freelancers

Extract, categorize, and export freelance income and expenses from PDF bank statements — ready for 1099, self-assessment, or ZATCA filings.

Loan Applications

Prepare clean, lender-ready bank statement exports that prove stable income and responsible financial behavior for personal and business loan applications.

Mortgage Applications

Prepare 6–12 months of verified, structured bank statement data for mortgage underwriting — covering down payment seasoning, income stability, and GCC real estate requirements.

Commercial International Bank (CIB) overviewEgypt banks guide

Convert Commercial International Bank (CIB) Statement

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Regulatory context

Regulator: Central Bank of Egypt (CBE)

Fiscal year: Jul 1 – Jun 30 (government); Jan–Dec (private sector)

Full country guide →

Statement info

EGP

Statement language: Arabic / English

Kashfbank

Turn your bank statement into a spreadsheet in seconds.

العربيةEnglish

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