Best answer: What are the types of taxes in Egypt?

Four main types of taxes apply in Egypt, namely corporate income tax, personal income tax, property tax and tax in interests, dividends and plus values. General Sales Tax, which is similar to Value Added Tax (VAT) to some extent, also applies.

What are the taxes in Egypt?

Tax Rate

Individual income tax Progressive rate from 0% to 22.5%
From EGP 8,001 to 30,000 10% (tax credit of 85%)
From EGP 30,001 to 45,000 15% (tax credit of 45%)
From EGP 45,001 to 200,000 20% (tax credit of 7.5%)
Above EGP 200,000 22.5% (tax credit not applied)

How do taxes work in Egypt?

Individual income tax rates in Egypt are progressive, up to 22.5%. Income tax is imposed on the worldwide income of Egyptian residents. Non-residents are subject to tax on income earned or realised in Egypt.

What are the 7 types of taxes?

Here are seven ways Americans pay taxes.

  • Income taxes. Income taxes can be charged at the federal, state and local levels. …
  • Sales taxes. Sales taxes are taxes on goods and services purchased. …
  • Excise taxes. …
  • Payroll taxes. …
  • Property taxes. …
  • Estate taxes. …
  • Gift taxes.
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What are the 5 types of taxes?

Here are five types of taxes you may be subject to at some point, along with tips on how to minimize their impact.

  • Income Taxes. Most Americans who receive income in a given year must file a tax return. …
  • Excise Taxes. …
  • Sales Tax. …
  • Property Taxes. …
  • Estate Taxes.


Is the Egyptian tax system sufficient?

Leftist and liberal economists agree in debate on Egypt taxation that the current system is inefficient, but differ on what changes should be made. Tax revenue in Egypt is very low compared to other countries, reaches around 17 percent of GDP.

How much is VAT in Egypt?

The VAT general rate is decided to be 13% for the fiscal year 2016/2017, to be increased to 14% as of the fiscal year 2017/2018.

2. Two Different Types of Taxes.

Good/Service Schedule Tax Rate
Media production 5%

Does Egypt have property tax?

Real property tax

Most real property in Egypt is subject to the real estate tax. A 10% rate applies on the annual rental value after allowing a 30% deduction to cover related costs for residential property and a 32% deduction for nonresidential property.

Who is eligible for paying income tax?

According to the Income Tax Act, it is mandatory to file income tax returns if: If your gross total income is over ₹ 2,50,000 in a financial year. This limit exceeds to ₹ 3,00,000 for senior citizens and ₹ 5,00,000 for citizens who are above 80 years.

What Egyptian job did not have to pay taxes?

The king was thought to own all the land because he had been granted his position by the gods, who had created the world and given it to the people, but throughout Egypt’s history the king would struggle with the priesthood, especially the priests of Amun, for power because the temples and their fertile lands and …

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What are the three classifications of taxes?

Tax systems in the U.S. fall into three main categories: Regressive, proportional, and progressive. Two of these systems impact high- and low-income earners differently.

What is general taxation?

General tax refers to a general levy by a government that offers no special benefit to the taxpayer, but only a support to governmental programs that benefit all. It is a source of public revenue. … The power to levy a general tax is inherent in all sovereign.

What are the most important taxes?

As shown in figure 1 above, income taxes are the largest tax base in the United States. Income taxes (including taxes on individual and corporate income; and for the federal government, deductions from payrolls for social insurance and retirement) are a major source of revenue for federal, state and local governments.

What is type of tax?

There are two types of taxes namely, direct taxes and indirect taxes. The implementation of both the taxes differs. You pay some of them directly, like the cringed income tax, corporate tax, and wealth tax etc while you pay some of the taxes indirectly, like sales tax, service tax, and value added tax etc.

What are the 5 most common types taxable income?

What is taxable income?

  • wages, salaries, tips, bonuses, vacation pay, severance pay, commissions.
  • interest and dividends.
  • certain types of disability payments.
  • unemployment compensation.
  • jury pay and election worker pay.
  • strike and lockout benefits.
  • bank “gifts” for opening or adding to accounts if more than “nominal” value.

How many different taxes are there?

Learn about 12 specific taxes, four within each main category—earn: individual income taxes, corporate income taxes, payroll taxes, and capital gains taxes; buy: sales taxes, gross receipts taxes, value-added taxes, and excise taxes; and own: property taxes, tangible personal property taxes, estate and inheritance …

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Across the Sahara