Law Amending Egyptian Tax Rates Enters into Force

The law amending Egypt's tax rates as announced in March ({News-2015-03-13/P/2- previous coverage}) has entered into force. Law No. 96 was published in Egypt's Official Gazette on 20 August 2015 and entered into force the following day. It includes the following changes:

• The standard corporate tax rate is reduced from 25% to 22.5%;
• The top individual income tax rate is reduced from 25% to 22.5% and the brackets are adjusted as follows:
  • up to EGP 6,500 - 0%
  • over EGP 6,500 to 30,000 - 10%
  • over…