Finance Min. discusses 5 percent tax for people earning over 1 million EGP
Minister of Finance Dr. Hani Kadry - YOUM7 (Archive)

CAIRO: Finance Minister Hany Kadry said on Monday the ministry is discussing a proposal presented by some businessmen to impose a temporary five percent tax for two to three years on individuals whose income is more than 1 million EGP.

Kadry told the Hona El-Assema program on the CBC channel that the ministry will impose the taxes on individuals not companies, and he denied imposing taxes on Egyptians abroad, saying that he heard the rumor in the media.

The General Union of Egyptians Abroad had sent two letters to President Adly Mansour and Prime Minister Ibrahim Mahlab to request imposing an annual tax on the 8 million Egyptians who work in foreign countries to support the state treasury with 4 million to 7 million LE annually.

Additional reporting by Ahmed Abdel Rahman.

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