Recent Legislations with Economic Implications

Brief Note

Published: 1 June 2017

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Summary

The Government of Egypt (GoE) and the Parliament have recently approved some important legislations, some of which aim at alleviating the burden of the latest economic reform measures, on the low and middle income groups, especially as headline inflation has reached 31.5% in April 2017. These legislations included raising the minimum income tax threshold, income tax discounts, an increase in pensions and an increase in the Takaful & Karama monthly allocations. Other legislations were also approved with the aim of bolstering tax revenues and controlling budget deficit. These include applying a 0.125% stamp duty on stock market transactions, issuing the executive regulations of the Civil Service law and earmarking a percentage of what are known as “special revenue funds” for state coffers. This brief document aims at analyzing the main implications of each of these legislative changes. 


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