Here are the Egypt statutory updates for 2024
Effective March 2024
Minimum Wage Increase
Last February, President Abdel Fattah al-Sisi announced that Egypt’s minimum wage would increase from EGP3,000 TO 6,000. State workers will also receive a salary increase ranging from EGP1000 to 1,200. This is part of a social protection package, with the country’s currency undergoing a devaluation.
Tax Exemption Threshold Increase
Egypt’s tax exemption threshold increase will take effect starting March 1 of this year. The threshold is rising by 33 percent, or from EGP30,000 to 40,000. The annual personal exemption limit also changed from EGP15,000 to 20,000.
Here are the adjusted tax brackets:
| Tax rate % | EGP600,000 and under | Between EGP600,000 to 700,000 | Between EGP700,000 to 800,000 | Between EGP800,000 to 900,000 | Between EGP900,000 to 100,000 | Over EGP100,000 |
| 0 | Up to 40,000 | |||||
| 10 | 40,000 to 55,000 | Up to 55,000 | ||||
| 15 | 55,000 to 70,000 | 55,000 to 70,000 | Up to 70,000 | |||
| 20 | 70,000 to 200,000 | 70,000 to 200,000 | 70,000 to 200,000 | Up to 200,000 | ||
| 22.5 | 200,000 to 400,000 | 200,000 to 400,000 | 200,000 to 400,000 | 200,000 to 400,000 | Up to 400,000 | |
| 25 | 400,000 to 1,200,000 | 400,000 to 1,200,000 | 400,000 to 1,200,000 | 400,000 to 1,200,000 | 400,000 to 1,200,000 | Up to 1,200,000 |
| 27.5 | Over 1,200,000 | Over 1,200,000 | Over 1,200,000 | Over 1,200,000 | Over 1,200,000 | Over 1,200,000 |
Source: Official Gazette and Daily News Egypt
Featured photo by Omar Elsharawy on Unsplash
