August 27, 2018

Amendment to the Income Tax Law

Article (8) of the Income Tax Law No. 91 of 2005 ("Tax Law") stipulating the tax rates have been amended by the Law No. 97 of 2018. The new income tax rates became as follows:

  1. First tranche: Up to 8,000 EGP per year (exempted)
  2. Second tranche: Above 8,000 EGP to 30,000 EGP (10%)
  3. Third tranche: Above 30,000 EGP to 45,000 EGP (15%)
  4. Fourth tranche: Above 45,000 to 200,000 EGP (20%)
  5. Fifth tranche: Above 200,000 (22.5%)

The following three tranches shall be granted a deduction from the tax due to them, as follows:

  1. Second Tranche (85%).
  2. Third Tranche (45%).
  3. Fourth Tranche (7.5%).
    The deduction referred to in the preceding paragraph shall be given for one time in accordance with the highest tranche in which the taxpayer is located. Such deduction shall not be granted to those subject to the fifth tranche.
Authors
No items found

Get in Touch

Related posts

No items found