Egypt’s FinMin underlines putting into effect tax income amendments for people

Egyptian Finance Minister Mohamed Maait underlined the importance of precisely putting into effect amendments to the law of tax on income.

This will contribute to promoting justice with regard to taxes as tax slices would alleviated burdens on people, Maait added.

The tax exemption limit rose by 60 percent, as the exemptions of each financier were raised from 8,000 pounds to 15,000 pounds.

Those whose annual salary income stands at around 24,000 pounds will be exempted from taxes.

He noted that the Egyptian Tax Authority issued a periodical booklet to contribute to the precise implementation of the tax on income in line with the new amendments.

Chairman of the Tax Authority Reda Abdel Qader said a new social category was forged for low-income people whose net annual income ranges between 15,000 pounds to 30,000 pounds.