(3 minutes read)
· Egyptian Finance Minister Mohamed Maait said that he would contribute to promoting social justice by progressively reducing tax rates since it would alleviate financial burdens on people, indicating that he would more introduce amendments to the existing tax laws
· People with annual salary income at about EGP 24,000 will be exempted from paying taxes. There will also be precision about how much each person with salary income should pay as taxes.
Egyptian Finance Minister Mohamed Maait said that he would contribute to promoting social justice by progressively reducing tax rates since it would alleviate financial burdens on people, indicating that he would more introduce amendments to the existing tax laws.
Egyptian Finance Minister Mohamed Maait said that he would contribute to promoting social justice by progressively reducing tax rates since it would alleviate financial burdens on people, indicating that he would introduce amendments to the existing tax laws People with annual salary income at about EGP 24,000 will be exempted from paying taxes. There will also be precision about how much each person with salary income should pay as taxes. The Egyptian Tax Authority is issuing periodical booklets to provide the precise implementation of the tax on income in line with the new amendments.
Chairman of the Tax Authority Reda Abdel Qader said that the low-income people whose net annual income ranges between EGP 15,000 to 30,000 are treated separately for tax related matters. This would enable them to pay only minimal tax. He also said that the tax regime in the country is calibrated in such a way as to provide for an inclusive growth model.
