Details of draft law amending some provisions of Egypt's Income Tax Law

CAIRO - 2 February 2022: The Egyptian Tax Authority published on its official page on Facebook the decision of the Prime Minister on a draft law to amend some provisions of the Income Tax Law promulgated by Law No. 91 of 2005, the first article of which states:

 

In addition to Article No. (42) of the Income Tax Law promulgated by Law No. 91 of 2005, a final paragraph reads:

 

As an exception to the provision of the first paragraph of this article, a tax shall be collected on the transactions contained therein and that occurred before 19/5/2013 according to the following brackets, even if there are many such transactions.

 

The first tranche: Up to an amount of LE 250,000, an amount of LE 1,500 will be obtained.

 

 

The second tranche: more than LE 250,000 up to LE 500,000, an amount of LE 2,000 will be obtained.

 

 

The third tranche: More than LE 500,000 up to LE 1 million, an amount of LE 3,000 will be obtained.

 

 

Fourth tranche: More than LE 1 million, an amount of LE 4,000 will be obtained.