The Presidential Decree 53/2014 reformed the existent Income Tax Law Nr. 91/2005. It is yet to be ratified and will bring significant changes affecting Egyptian Nationals working abroad as well as non-Egyptian nationals resident in Egypt. It aims to widen the scope of taxation thereby ameliorating the ailing economy.
A taxation based on global income has so far only been applied on legal entities in accordance with Art. 47 of the aforementioned law. Considering the future changes the same tax will be imposed on the income of individuals. This will result in a change of the provisions of Art. 32 n. 1 and 6 of the Law which will in turn impose a tax on the net revenues of self-employed professionals if their centre of economic activity is Egypt.
Are you affected? What shall you anticipate? How shall you be prepared? If you want to get prepared we gladly welcome you to our
Egypt’s Move to Global Income Taxation- how it’s affecting expats.
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