Finance
Minister Mohamed Maait underlined the importance of precisely putting into
effect amendments to the law of tax on income, he said this will contribute to
promoting justice with regard to taxes as tax slices would alleviated burdens
on people.
The tax exemption limit rose by 60%, as the exemptions of each financier were
raised from EGP 8,000 to EGP 15,000, those whose annual salary income stands at
about EGP 24,000 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 EGP 15,000
to 30,000.
Source: Egypt Today
