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Egypt Tax Rate for 2016-2017, 2015-2016, 2014-2015

 

Income Tax Rate for 2015

Taxable income bracket (EGP)

Tax Rate %

 

0 - 5,000

 

0%

 

5,001 - 30,000

 

10%

 

30,001 - 45,000

 

15%

 

45,001 - 250,000

 

20%

 

250,001 - 1,000,000

 

25%

 

Over EGP 1,000,000 per year would be subject to additional tax at 5 percent.


For taxpayers (foreign expatriates) living in Egypt for less than 183 days during one calendar year, the tax rates which are mentioned above will be applied.

Egypt Income Tax Rates 2014 and Deductions

Egypt Income Tax Rate for Individual Tax Payers

Lowest Individual Tax Rate is 10% and Highest Rate is 25%

Taxable income bracket (EGP)

Tax Rate %

 

upto 5,000

 

0%

 

5,001 - 30,000

 

10%

 

30,001 - 45,000

 

15%

 

45,001 - 250,000

 

20%

 

250,001 - 1,000,000

 

25%

 

Over EGP 1,000,000 per year would be subject to additional tax at 5 percent.


For taxpayers (foreign expatriates) living in Egypt for less than 183 days during one calendar year, the tax rates which is mention above will be applied.

Egypt Tax-exempt income

Are there any areas of income that are exempt from taxation in Egypt? If so, please provide a general definition of these areas.

The following amounts may be excluded from salary taxable income:
personal relief of EGP7,000
employee’s share of social insurance
exemption of special increases will continue to apply
end of services payments and pensions
life insurance and medical insurance
collective benefits-in-kind
employee’s profit share.

Personal relief of EGP7,000

Corporate Tax Rates in Egypt

The basic corporate federal rate of tax in Egypt is 25%.

 

Capital Gains Tax in Egypt

Tax on capital gains is calculated at the ordinary corporate profits tax rates in the same manner as ordinary business profits and is not calculated separately. Trading and capital losses derived from sales of other assets are deductible against taxable capital gains.

Egypt Dates of filing Returns / Reporting and Payment

It is the employer’s responsibility to file quarterly tax returns. The employer has one month after the end of each quarter to file such returns. Additionally, the employer is required to file annual salary tax reconciliation outlining salaries paid to each employee, deductions, exemptions, tax due, and the net salary paid to each employee.

31 December is the tax end date.

Compliance requirements for tax returns in Egypt

Residents and non-residents

Generally, the employer is required to compute the salary tax and withhold it at the source on a monthly basis. They are obliged to remit it to the relevant tax office within the first 15 days of the following month. Employees are not required to file tax returns unless the employer is non-resident or has no permanent establishment in Egypt. In such case, the employee will be required to file a tax return at the first of January of each year. Additionally, the employer is required to file a quarterly tax return. The employer has one month after the end of each quarter to file the quarterly tax returns.

At the year-end, the employer is required to prepare an annual reconciliation of the salary tax to determine whether there are any differences and to remit such tax differences, if any, to the competent tax office within January of the following year.

Penalties are imposed in the case of not complying with the due dates mentioned earlier at 2 percent plus the discount rate declared by the Central Bank of Egypt (discount rate is 11 percent approximately).

The tax authority audits the employer for individual income tax purposes and not each individual separately.

 
 

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