Egypt simplifies taxes for small businesses below EGP 10 mln turnover

Under the new provisions, establishments with a business turnover below EGP 250,000 will be subject to an annual tax of EGP 1,000.

Likewise, businesses with a turnover between EGP 250,000 and EGP 500,000 will face a tax of EGP 2,500, while those with a turnover between EGP 500,000 and EGP 1 million will be taxed EGP 5,000.

Furthermore, establishments with a turnover ranging from EGP 1 million to less than EGP 2 million will be taxed at a rate of 0.5 percent.

Similarly, turnovers between EGP 2 million and less than EGP 3 million will incur a tax rate of 0.75 percent, and turnovers ranging between EGP 3 million and EGP 10 million will be taxed at a rate of 1 percent.

"These measures align with the directives of Mohamed Maait, finance minister, to resolve tax disputes for establishments with turnover below EGP 10 million," Abdel-Aal emphasized.

Abdel-Aal further highlighted the government's commitment to providing streamlined processes for taxpayers and expediting transaction completion through the implementation of mechanization.

In May 2023, the Egyptian parliament passed a bill introducing several amendments to the tax system, including the implementation of a simplified tax framework for small and micro-scale enterprises with annual transactions not exceeding EGP 10 million.