The Finance Ministry of Egypt announced on 22 October 2013, that the annual personal tax exemption limit will be increased from 4,000 Egyptian pounds ($580) to 7,000 Egyptian pounds ($1,015) which aims to motivate the national economy and stunned the current economic crisis.
The increase of the personal exemption limit is expected to help reduce tax burdens for low-income individuals by broadening the lowest tax brackets of the income tax structure, while increasing the burden on high-income individuals.
