Min.: Bill on brackets of income tax to lower burden on citizens

CAIRO, March 8 (MENA) - Finance Minister Mohamed Maait Sunday said that a new law on the brackets of income tax will be submitted to the House of Representatives shortly.

The draft law aims to alleviate burden of the income taxes borne by the citizens.

The minister was addressing a meeting held by the parliament's planning and budget committee, under Lawmaker Hussein Eissa, to discuss a draft law proposed by the government on the issuance of the unified tax procedures bill.

The unified tax procedures draft law regulates the procedures of the collection of the various types of taxes, including the income tax, the value added tax, the stamp duty as well as the tax of the development of state's financial resources.

Besides reducing the procedures, the unified tax procedures bill intends to avoid the double taxation.

It also regulates the procedures of collecting the aforementioned taxes along with us boosting dependency on the modern technological techniques in various tax dealings.