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Egypt Introduces Solidarity Contribution on Employment and Pension Income

|Approved Changes|Egypt
Egypt

Egypt has introduced a new solidarity contribution that applies for a period of 12 months beginning from 14 August 2020. The contribution is equal to 1.0% on net employment income and 0.5% on net pension income, which is withheld by the relevant employer or pension body, as the case may be. An exemption is provided, however, for individuals with net employment or pension income not exceeding EGP 2,000 per month.

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