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Sunday, 4 August 2019

FinMin sets up committee to draft Egypt’s new income tax law

The Finance Ministry has set up a 13-member committee to draft a new income tax law during the current fiscal year, according to a decision seen by Al Mal. The committee will be led by Ramadan Seddik, advisor to the finance minister on tax policy, and Osama Tawakol, advisor to the minister on tax appeals. Minister Mohamed Maait announced the new law during a press conference last week, but did not provide any details about how the tax system will be changed. The ministry said in a statement that income tax rates will not be changed. An initial draft will be ready within the next two months.

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