Pre-Trading Thoughts

Ministry of Finance proposed a new set of taxes and fees on luxury products and services, with the intention to raise tax revenues for the next fiscal year. Tax changes that would reduce income tax for lower earners and raise tax for those on higher incomes received approval from the House Planning and Budget Committee on Thursday. Those would raise the personal income tax exemption threshold to EGP 36k from EGP 24k while introducing a new 27.5% higher rate of tax for people earning mor...