Egypt’s finance minister pledges no tax increases; income tax reduced

The Egyptian government is not targeting a tax increase in the coming period as the country is moving towards upgrading its tax collection system and streamlining the procedures in a bid to legalise the informal economy, its finance minister Mohamed Maait said on Tuesday.

Tax rates for low-, middle-, and upper-middle-income earners have been reduced, and the tax exemption limit has been raised by 60 percent, Maait added.

The minister made his remarks during the the sixth round of the Regional Forum for Medical Insurance and Healthcare.