Egipte: Entorn econòmic
Concerning social insurance contributions, a new comprehensive health insurance system has been introduced. The total applicable contribution rate is 29.75%, with the employer's share of it being 18.75%. The 2023 minimum and maximum monthly salary caps are EGP 1,700 and EGP 10,900, respectively (increased by 15% on 1 January of each year until 2027).
There are two distinct types of stamp tax, which are imposed on legal documents, deeds, banking transactions, company formation, insurance premiums, and other transactions, as follows: the nominal stamp tax is imposed on documents, regardless of their value. The tax rate for items such as contracts is EGP 1 for each paper; whereas a percentage or proportional stamp tax is levied based on the value of transactions (from 0.05% to 0.3% of the total proceeds realised). An annual proportional stamp tax at the rate of 0.4%, shared by the bank and the client, is imposed on a bank's loans.
Stamp tax applies to the total value of trading in securities (except for public treasury bills and bonds), without any deduction allowed for expenses. The tax is imposed on both the buyer and the seller, at rates of 0.125% for non-resident sellers and non-resident buyers and 0.05% for resident sellers and resident buyers (the rate can go up to 0.3% in the case of a sale or acquisition of at least 33% of the shares or voting rights (in terms of number or value) of a resident company, or assets or liabilities of a resident company by another resident company, in exchange for shares in the acquiring company.
Egypt | Middle East & North Africa | United States | Germany | |
Number of Payments of Taxes per Year | 27.0 | 20.8 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 370.0 | 204.0 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 44.4 | 32.1 | 36.6 | 48.8 |
Source: Doing Business, Latest available data.
Individual income tax | Progressive rate from 0% to 22.5% |
Up to EGP 21,000 | 0% |
From EGP 21,001 to 30,000 | 2.5% |
From EGP 30,001 to 45,000 | 10% |
From EGP 45,001 to 60,000 | 15% |
From EGP 60,001 to 200,000 | 20% |
From EGP 200,000 to 400,000 | 22.5 |
From EGP 400,000 to 785,000 | 25% |
Above EGP 785,000 | 27.5% |
The annual net taxable income ranging: - between EGP 600,000 and EGP 700,000 is not eligible for the 0% tax bracket. - between EGP 700,000 and EGP 800,000 is not eligible for the 0% and 2.5% tax brackets. - between EGP 800,000 and EGP 900,000 is not eligible for the 0%, 2.5%, and 10% tax brackets. - between EGP 900,000 and EGP 1 million is not eligible for the 0%, 2.5%, 10%, and 15% tax brackets. - above EGP 1 million is not eligible for the 0%, 2.5%, 10%, 15%, and 20% tax brackets. |
The rates may be reduced under an applicable tax treaty.
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Actualitzacions: September 2023