Egypt – Parliament approves changes in tax law effective Mar 2024

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The Egyptian parliament on 22^nd February 2024, in official gazette approved below changes in the income tax law no. 91 of 2005. These are effective from 1^st March 2024.

Changes in tax table

The threshold for the tax-exempt bracket for annual income has been raised from EGP 30,000 to EGP 40,000. Consequently, the newly adjusted brackets are as follows.

Tax Rate (%)	Not exceeding EGP 600,000	Between EGP 600,000 and 700,000	Between EGP 700,000 and 800,000	Between EGP 800,000 and 900,000	Between EGP 900,000 and 1,200,000	Exceeding EGP 1,200,000
0	1 to 40,000	–	–	–	–	–
10	Exceeding 40,000 to 55,000	1 to 55,000	–	–	–	–
15	Exceeding 55,000 to 70,000	Exceeding 55,000 to 70,000	1 to 70,000	–	–	–
20	Exceeding 70,000 to 200,000	Exceeding 70,000 to 200,000	Exceeding 70,000 to 200,000	1 to 200,000	–	–
22.5	Exceeding 200,000 to 400,000	Exceeding 200,000 to 400,000	Exceeding 200,000 to 400,000	Exceeding 200,000 to 400,000	1 to 400,000	–
25	Exceeding 400,000	Exceeding 400,000	Exceeding 400,000	Exceeding 400,000	Exceeding 400,000	1 to 1,200,000
27.5	–	–	–	–	–	Exceeding 1,200,000

Changes in personal exemption limit

The annual personal exemption limit has been changed from EGP 15,000 to EGP 20,000.
The annual personal exemption limit for a person with disability or care giver for a person with disability has been amended as 1.5 times annual personal exemption. Hence, the limit of annual personal exemption in this case would be EGP 30,000.

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

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Egypt - Parliament approves changes in tax law effective Mar 2024

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Egypt – Parliament approves changes in tax law effective Mar 2024

Changes in tax table

Changes in personal exemption limit

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