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Egyptian Minister of Finance Mohamed Maait has said that citizens would be exempted from paying new fees levied to develop state resources as approved by the Egyptian House of Representatives Budget and Plan Committee
Egyptian Minister of Finance Mohamed Maait has said that citizens would be exempted from paying new fees levied to develop state resources as approved by the Egyptian House of Representatives Budget and Plan Committee.
The new fees will also not be imposed on durable goods, soft drinks, cosmetics, or perfumes. The fee, the minister stressed would be on non-essential goods, such as caviar and smoked salmon. The other measure for raising resources is by increasing departure fees for Egyptians by LE50. However, departure fees for foreigners would remain unchanged.
The new fee raise will be applicable to people visiting theaters and other entertainment places. For instance, the fees for a number of entertainment activities, such as ice skating, singing parties, and disco are raised significantly.
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The new law also increased the tax exemption limit under the Income Tax rules. It has raised the tax exemption limit by 50 percent to LE 36,000 annually in order to achieve social justice.
