Galaxy S9+ 64 GB can be purchased for EGP 17,300 in cash, or on a six-month installment
plan for EGP 3,273 per month, or a nine-month instalment plan for EGP 2,312 per month.
Meanwhile, buyers who paid less than two years of installments
are entitled to a grace period of not less than 60 days from the date the installment
were respectively paid to the CBI's accounts in Oman and the United Arab Emirates.
The regulation is also expected to limit installments
for online sales as well.
was established in 2012 by Shu Capital following the success of Shu's subsidiary Gulf Finance Corporation in the UAE, says a company press release.
His Highness Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHU Capital and Chairman of Gulf Finance said, "We are excited about the establishment of Gulf Installments
in Saudi Arabia.
A taxpayer does not need to elect installment
For IRS purposes, whether or not seller elects the Installment
Sale method, the parties must agree on the allocation of purchase price among the various types of assets, using fair market value (FMV] as the guide.
Under provisions enacted since 1996, taxpayers may request administrative review of IRS decisions to terminate installment
agreements; taxpayers may appeal rejections of proposed installment
agreements; and the IRS must accept proposed installment
agreements in certain circumstances.
To qualify for an installment
agreement the maximum balance owed cannot exceed $10,000, and the total balance must be paid within 36 monthly installments
These options would include the joint-and-survivor life annuity, installment
payments over a single-and-joint life expectancy, and installment
payments over a specified period of years.
The limitation requires the taxpayer to treat installments
as having been received even though no payments have been made.