Egyptian Finance Minister Mohamed Maait said that amendments to the income tax law, approved by the Cabinet and referred to the House of Representatives, are aimed at alleviating the burden on citizens and stimulating investments. These amendments include raising the personal tax exemption limit from LE 9,000 to LE 15,000, bringing the total tax exemption limit to LE 30,000 annually. The amendments also include approving an incentive for individuals to encourage them to request invoices and electronic receipts, and a reward for those who provide information on cases of tax evasion. Other amendments to the income tax law include reforms to revitalize the Egyptian Stock Exchange. Maait explained that this will include granting investors a set of additional tax incentives to support the capital market and increase the demand for trading, as well as listing companies on the stock exchange.

Source: Egypt Independent May 04, 2022 02:38 UTC