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Tuesday, September 07, 2010
Archive Career Advisor
Are taxes on salaries in Egypt really going to be reduced ?

I heard from friends and colleagues that the government of Egypt is reducing taxes on employee salaries… is this true ? And how can I calculate the salary deductions for taxes etc...
Y. I. (Giza)


Dear Mr. I.



It seems you are not keen on following the Egyptian media and newspapers… this
is an important aspect of any professional's development and advancement,
regardless of what he / she does for a living… there is not excuse for reading
at least one daily newspaper and following one or more weekly publications…



Now, back to your question, yes the government announced in September 2004
(during the annual convention of the ruling National Democratic Party) its
intention to increase tax deduction allowances and reduce tax rates. Such
measures if applied will reduce what we all pay to the tax authority. Obviously
the exact saving will differ from one person to the other depending on his / her
income. Just as an indication, the highest income bracket is currently taxed at
over 32%... this will be reduced to 20%.



Are these tax reductions already implemented ? no, because any changes to the
tax laws must be first approved by the Parliament (People's assembly), which is
expected to take place in late November of December 2004…



We are not in a position to provide you with specific information as to what the
new tax rates will be, however, if you are interested in finding out about the
current deductions (ie. Taxes and social security) under the existing system…
please click here
to access our online salary calculator.





We hope the above was of some use to you.



Good Luck
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