Page 33 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 31
• Companies operating in Egypt are subject to a tax on their profits at a Tax rates on Corporate Profits & Income in 2022
rate of 22.5%, which is a low rate compared to other emerging countries Corporate
such as India, Mexico, Morocco, South Africa and Tunisia.
23% 34.94% 20% 22.5% 28% 31% 25% 30%
• Individuals working in Egypt are subject to income tax ranging from
0-25%, which are low rates compared to other emerging countries such
as India, Mexico, Morocco, South Africa, Tunisia, and Turkey.

Improving Adoption
tax brackets for Enactment of electronic
of new insolvency
the benefit of a larger settlement laws to collection technology
part of society and increase access to and facilitation of 15-40% 0-30% 20% 0-25% 0-40% 0-41.5% 0-35% 0-30%
serving the finance procedures in Working
middle Egypt to issue Income
class. Reduction laws aiming at Turkey India KSA Egypt South Morocco Tunisia Mexico
of corporate Application integrating the informal Africa
tax of VAT economy in Source: Worldwide-tax - Deloitte - KPMG
burdens the formal
one.
Comparison of VAT Rate in Egypt vs. some of Regional &
Emerging Countries
20%
• In Egypt, a value-added tax (VAT) of 14% is applied, which is a low rate 18% 19%
compared to other emerging countries such as India, Mexico, Morocco, 14% 15%
South Africa, Tunisia, and Turkey.
• Egypt is also keen to implement international tax obligations through
agreements concluded with different countries, which achieves the 5% 5%
national interest and ensures the maximum possible benefit. In such
context, 130 countries, including Egypt, recently reached a historic
agreement related to international taxes; on how to distribute taxes
related to multinational companies. Such countries also agreed to set
new tax rules; through applying a minimum tax rate of no less than 15%, Turkey UAE KSA Egypt Morocco South Tunisia
Africa
to prevent multinational companies from avoiding paying their fair share
of taxes in the various countries of the world in which they operate. Source: Worldwide-tax - 2022