Egypt Providing Simplified Lump-Sum Tax for Startups

The Egyptian Tax Authority (ETA) issued a release on 10 November 2023 announcing a new simplified lump sum tax to stimulate emerging companies and entrepreneurship. This includes annual lump sum and flat rate amounts for start-up companies as follows depending on the annual turnover amount:

• EGP 1,000 if annual turnover is less than 250,000;
• EGP 2,500 if annual turnover ranges from EGP 250,000 to EGP 500,000;
• EGP 5,000 if annual turnover ranges from EGP 500,000 to EGP 1 million;
• 0.5% of turn…