Now Reading
Egypt Implements Temporary Tax Increase For Wealthy

Egypt Implements Temporary Tax Increase For Wealthy

The tax will apply for three years, Egyptian state media reported.

Egypt’s interim president, Adly Mansour, on Thursday signed into law a temporary five per cent income tax increase on individuals earning more than one million Egyptian pounds ($139,900) a year, the state news agency said on Thursday.

The tax will apply for three years.

Foreign investors will be looking to president-elect Abdel Fattah al-Sisi to enact reforms to strengthen an economy racked by three years of political upheaval, after he takes office on Sunday.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top