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Sunday, 10 May 2020

El Sisi ratifies four bills including covid-19 tax relief, income tax amendments

LEGISLATION WATCH- El Sisi ratifies four newly approved bills, including covid-19 tax relief, higher income tax exemptions: President Abdel Fattah El Sisi has signed into law four laws recently voted in by parliament, including amendments that raise the income tax exemption threshold. Other laws include allowing pensioners to add the previous five raises to their pensionable pay under the recently ratified Social Security and Pensions Act, a law giving cabinet power to postpone tax payments as covid-19 relief, and changes to the Real Estate Tax Act to exempt unused land. The Official Gazette published the presidential decrees yesterday.

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