{"id":591877,"date":"2019-12-19T04:20:40","date_gmt":"2019-12-19T04:20:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/"},"modified":"2019-12-19T04:20:40","modified_gmt":"2019-12-19T04:20:40","slug":"new-income-tax-law-to-be-finalized-this-fiscal-year-maait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/","title":{"rendered":"New income tax law to be finalized this fiscal year -Maait"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- The new income tax law will see the light of day this fiscal<\/strong> year: <\/strong>The new income tax law will be finalized before the end of the current fiscal year in June 2020, Finance Minister Mohamed Maait said<\/a> at the World Youth Forum earlier this week. The law will, if passed, would raise the personal income tax exemption threshold beyond EGP 8k per year, according to a local press report<\/a>, make it harder for foreign companies to sidestep Egyptian taxes, and introduce new rules on the resolution of tax disputes.<\/p>\n

MPs have been discussing tax changes of their own:<\/strong> Rep Mervat Alexan last week proposed<\/a> raising the income tax brackets for all people earning up to EGP 30k a year, rather than just the exemption threshold.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- The new income tax law will see the light of day this fiscal year: The new income tax law will be finalized before the end of the current fiscal year in June 2020, Finance Minister Mohamed Maait said at the World Youth Forum earlier this week. The law will, if passed, would raise […]<\/p>\n","protected":false},"author":1,"featured_media":591878,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,276,884,180,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-finance-ministry","tag-income-tax-act","tag-legislation","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"fc6ce001-ffee-4730-bcd3-ecd6d2e0d635","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/tax-abacus-1600px.jpg","photo_position":"above","related_issue":[591870],"teaser":"","voice_url":""},"yoast_head":"\nNew income tax law to be finalized this fiscal year -Maait - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New income tax law to be finalized this fiscal year -Maait\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- The new income tax law will see the light of day this fiscal year: The new income tax law will be finalized before the end of the current fiscal year in June 2020, Finance Minister Mohamed Maait said at the World Youth Forum earlier this week. The law will, if passed, would raise […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-19T04:20:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"New income tax law to be finalized this fiscal year -Maait\",\"datePublished\":\"2019-12-19T04:20:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/\"},\"wordCount\":138,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/tax-abacus-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Finance Ministry\",\"income tax act\",\"legislation\",\"SPEED ROUND\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/\",\"name\":\"New income tax law to be finalized this fiscal year -Maait - 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Maait did not\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/661.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593526,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/","url_meta":{"origin":591877,"position":1},"title":"FEI suggests amendments to Income Tax Act","author":"enterpriseam admin","date":"1 October 2019","format":false,"excerpt":"LEGISLATION WATCH- FEI suggests changes to Income Tax Act: The Federation of Egyptian Industries (FEI) is lobbying the Finance Ministry for changes to the Income Tax Act, the local press reported. Among the amendments is a proposal to give a tax cut to low income earners by tripling the tax\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567383,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/21\/finmin-to-place-new-income-tax-law-up-for-public-consultation-in-2-4-weeks\/","url_meta":{"origin":591877,"position":2},"title":"FinMin to place new income tax law up for public consultation in 2-4 weeks","author":"enterpriseam admin","date":"21 January 2020","format":false,"excerpt":"LEGISLATION WATCH- The Finance Ministry\u2019s new income tax law will be up for public consultations in 2-4 weeks, Minister Mohamed Maait announced during a press conference held yesterday. The law would raise the personal income tax exemption threshold to EGP 24k, close tax avoidance loopholes for foreign companies, and introduce\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/661.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570877,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/egypts-cabinet-approves-income-tax-breaks-other-decisions-in-weekly-meeting\/","url_meta":{"origin":591877,"position":3},"title":"Egypt\u2019s Cabinet approves income tax breaks, other decisions in weekly meeting","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"CABINET WATCH- Cabinet approves income tax breaks: The Madbouly cabinet greenlit in its weekly meeting on Thursday proposed amendments to the Income Tax Act that would, if approved by the House of Representatives, exempt employees making less than EGP 22k a year from paying income tax. Besides raising the tax\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/165.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595369,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/","url_meta":{"origin":591877,"position":4},"title":"Egypt finishes initial draft of new income tax law","author":"enterpriseam admin","date":"24 September 2019","format":false,"excerpt":"LEGISLATION WATCH- Initial draft of new income tax law ready: The Finance Ministry has completed incorporating suggestions from the business community and finalized an initial draft of a new income tax law, Minister Mohamed Maait said yesterday during the Future of Investment in Egypt conference, according to a ministry statement.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/615.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595701,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/finmin-sets-up-committee-to-draft-egypts-new-income-tax-law\/","url_meta":{"origin":591877,"position":5},"title":"FinMin sets up committee to draft Egypt\u2019s new income tax law","author":"enterpriseam admin","date":"4 August 2019","format":false,"excerpt":"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. 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