Egypt Income Tax Law Amendment

The Egyptian Parliament has further amended the Income Tax Law No 91 of 2005, as published in the official Gazette dated 01 November 2023, as follows:

• First tax bracket limit has been increased from EGP 21,000 to EGP 30,000.
• The 2.5% tax bracket has been removed such that the first tax bracket is now 10%

The revised income tax brackets are provided below:

The amended Income tax law is effective from 1 November 2023. Two tax declarations will still need to be provided by entities with a 31 December financial year-end:

• 1 January 2023 to 30 June 2023 – based  the old income tax law
• 1 July 2023 to 31 December 2023 – based the new income tax law

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

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Egypt-Additional 2023 Legislation changes

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