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Egypt Reduces Top Income Tax Rate

Lorys Charalambous, Tax-News.com, Cyprus

17 March 2015


The Egyptian Minister of Finance, Harry Dimian, has announced that the maximum rate of income tax will be reduced to 22.5 percent.

This reduction in the top rate of tax will apply to both corporate and personal income tax. It is one of several recent measures reflecting a marked change in approach from the Egyptian authorities. Only last year, the top rate of tax was temporarily increased to 30 percent. In contrast, more recent policies are clearly aimed at making Egypt a more attractive place to do business, with an emphasis on simplification and reform.

The announcement was made immediately before the start of the three-day international investor conference in Sharm El-Sheikh with the clear intent of wooing foreign investors.

TAGS: africa | tax | investment | business | tax incentives | fiscal policy | entrepreneurs | corporation tax | tax rates | Egypt | tax reform | business investment

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