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Aug. 25—The Egyptian personal income tax threshold has increased while the highest tax bracket threshold and rate have both decreased, Egyptian President Abdel Fattah el-Sisi announced Aug. 24 in Law No. 69 of 2015.
Under the presidential decree, which will become effective the day it is published in the official gazette, the new progressive personal income tax rates for the year include:
• no taxes on wages up to 6,500 pounds ($831)
• 10 percent on wages above 6,500 pounds and up to 30,000 pounds ($3,831)
• 15 percent on wages above 30,000 pounds and up to 45,000 pounds ($5,747)
• 20 percent on wages above 45,000 pounds and up to 200,000 pounds ($25,561)
• 22 percent on wages above 200,000 pounds, with an additional 5 percent tax on wages above 1 million pounds ($127,711) for the 2015-16 tax year.
The presidential decree amends provisions of the Income Tax Law No. 91 of 2005.
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The presidential decree is available in Arabic at http://www.sis.gov.eg/Ar/Templates/Articles/tmpArticleNews.aspx?ArtID=110812#.VdyC3vlVhBf.
Income Tax Law No. 91 of 2005 is available at http://www.mof.gov.eg/MOFGallerySource/english/IncomeTaxLaw.pdf.
More information on payroll issues in Egypt are available in the Egypt country primer.
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