Escalatory taxes could provide needed funds for Mahlab government: Economists
Economic expert Basant Fahmy - YOUM7 (Archive)

CAIRO: Economic experts told Youm7 Saturday the necessity of applying tax escalation, as well as reconciliation with businessmen who are delinquent on their taxes in order to resolve the current financial crisis.

Additional financial resources could be collected by imposing escalatory taxes, said economic expert Salah al-Amrousy.

Amrousy said that escalatory taxes would not harm the poor, but some classes should be taxed 20 percent of their income, including those who earn between 40,000 EGP ($5700) to a million EGP ($143,000) monthly.

Unpaid taxes by businessmen amount to 60 billion EGP according to economic expert Basant Fahmy, who said the government should reconcile with them quickly in order to cover its needs.

Originally published in Youm7.

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