{"id":1406,"date":"2017-07-09T09:11:01","date_gmt":"2017-07-09T09:11:01","guid":{"rendered":"http:\/\/127.0.0.1:8081\/?page_id=86"},"modified":"2017-07-09T09:11:01","modified_gmt":"2017-07-09T09:11:01","slug":"raising-minimum-tax-threshold-individuals","status":"publish","type":"post","link":"https:\/\/riad-riad.com\/raising-minimum-tax-threshold-individuals\/","title":{"rendered":"Raising Minimum Tax Threshold for Individuals"},"content":{"rendered":"<p>On 21 June 2017, Law no. 82 of 2017 was issued to increase the first bracket exempted<br \/>\nfrom income tax from EGP 6,500 to 7,200. The current applicable tax brackets are as<br \/>\nfollows:<\/p>\n<table>\n<thead>\n<tr>\n<th style=\"text-align: center;\">No.<\/th>\n<th style=\"text-align: left;\">Tax Bracket<\/th>\n<th style=\"text-align: center;\">Tax Rate<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"text-align: center;\">1.<\/td>\n<td style=\"text-align: left;\">Up to EGP 7,200<\/td>\n<td style=\"text-align: center;\">0%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">2.<\/td>\n<td style=\"text-align: left;\">More than EGP 7,200 and up to EGP 30,000<\/td>\n<td style=\"text-align: center;\">10%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">3.<\/td>\n<td style=\"text-align: left;\">More than EGP 30, 000 and up to EGP 45,000<\/td>\n<td style=\"text-align: center;\">15%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">4.<\/td>\n<td style=\"text-align: left;\">More than EGP 45, 000 and up to EGP 200,000<\/td>\n<td style=\"text-align: center;\">20%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">5.<\/td>\n<td style=\"text-align: left;\">More than EGP 200,000<\/td>\n<td style=\"text-align: center;\">22.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The Law grants, for the first time, tax deduction for taxpayers who fall under the<br \/>\nsecond, third and fourth brackets. The second bracket will get a deduction of 80% (i.e.,<br \/>\nwill pay only 20% of their due tax), the third bracket will get 40% and the fourth will<br \/>\nbet 5%. Taxpayers falling under the fifth bracket will pay their full income tax.<\/p>\n<p>Such tax deduction should apply only once based on the highest bracket in which the<br \/>\ntaxpayer is subject.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 21 June 2017, Law no. 82 of 2017 was issued to increase the first bracket exempted from income tax<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Raising Minimum Tax Threshold for Individuals - riad-riad.com<\/title>\n<meta name=\"description\" content=\"Raising Minimum Tax Threshold for Individuals\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/riad-riad.com\/raising-minimum-tax-threshold-individuals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raising Minimum Tax Threshold for Individuals - 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