Egypt’s Sisi OKs amendments to several articles in income tax law

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Egypt’s President Abdel Fattah al-Sisi on Friday endorsed amendments to several articles in the income tax law, Law no. 91 of 2005.

In a statement on Friday, Finance Minister Mohamed Maait said the amendments aim at granting more power to the health and social care fund for employees at the Egyptian Tax Authority by granting it a legal personality.

The finance ministry, represented by the Egyptian Tax Authority, will immediately start to apply these legislative amendments, particularly those of Article 58 related to treasury bills and bonds.

Amending Article 58 aims at adopting international tax practices related to treasury securities, the ministry added.

Source: MENA