Jun 26, 2023 1 min read

Egypt Income Tax Law Amendment

Egypt’s Income Tax Law Amended

The Egyptian Parliament has amended the Income Tax Law No 91 of 2005, as published in the official Gazette dated 20 June 2023, as follows:

  1. Annual Personal Exemption limit amended from EGP 9,000 to EGP 15,000
  2. Annual Personal Exemption limit for differently abled employees amended by 50% to EGP 22,500
  3. First tax bracket limit increased from EGP 15,000 to EGP 21,000.
  4. New tax bracket of 27.5% added for annual income greater that EGP 1,200,000.

The revised income tax brackets are provided below:

Annual Income Tax Bracket (in EGP)Total Annual Taxable Income
Less than 600,000600,000-700,000700,000-800,000800,000-900,000900,000-1,200,000More than 1,200,000
1-21,0000.0%2.5%10.0%15.0%20.0%25.0%
21,001-30,0002.5%2.5%10.0%15.0%20.0%25.0%
30,001-45,00010.0%10.0%10.0%15.0%20.0%25.0%
45,001-60,00015.0%15.0%15.0%15.0%20.0%25.0%
60,001-200,00020.0%20.0%20.0%20.0%20.0%25.0%
200,001-400,00022.5%22.5%22.5%22.5%22.5%25.0%
400,000-1,200,00025.0%25.0%25.0%25.0%25.0%25.0%
>1,200,00027.5%27.5%27.5%27.5%27.5%27.5%

The amended Income tax law is effective from 1 July 2023 and therefore two declarations need to be provided by the entities with 31 December financial year-end:

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change.

Mercans Recommend

View PDF

Egypt Income Tax Law Amendment
Size

777.75 KB

Most viewed posts

View all posts

Global BPO Leader Infosys Selects Mercans’ Payroll Tech to Power i...

This partnership brings together Mercans' disruptive payroll tech and Infosys' consulting and BPO capabilities to create the most tech advanced and operationally resilient global payroll offering.

Sep 26, 2023 3 min read

Lebanon – Sickness and Maternity Contributions Set To Raise

Contributions will be raised to LBP 18,000,000 from the existing limit of LBP 5,600,000.

Sep 18, 2023 1 min read

Singapore – Central Provident Fund Ceiling Changes

Effective from 1 September 2023, the Central Provident Fund Board has amended the additional income ceiling for monthly mandatory contributions. CPF Ordinary Wage (OW) ceiling limits, the amount of OW that attract CPF contributions in a calendar m

Sep 12, 2023 1 min read

Kenya – 2023 Statutory Changes

Effective from 28 July 2023, the Kenyan Government has lifted the suspension barring the implementation of the 2023 Finance Act. The Finance Act of 2023 proposed the below changes to take effect from the 1st of July 2023: Exemption of travel allo

Aug 15, 2023 2 min read

Oman Announces New Labor Law

Effective from 25 July 2023, the Omani government through Royal Decree No. 53/2023 issued the New Labor Law which replaces the Old Labor law issued through Royal Decree No. 35/2003. Please find the previous and new law comparison in the below tabl

Aug 11, 2023 1 min read

HR Blizz Acquires an Accounting Software Award from Leading B2B Rev...

HR Blizz earned another notch on its belt when a major B2B software marketplace granted our accounting software a major award. FinancesOnline, one of the leading software directories today, confers HR Blizz with a Rising Star Award, acknowledgin

Aug 10, 2023 3 min read