The first 12,000 Egyptian Pounds earned by state sector workers will also be exempt from tax. The change is expected to benefit up to 6.2 million public sector employees and millions in the private sector.

For private sector employees ineligible for the higher exemption rate, no tax will be paid on the first 5,000 Egyptian Pounds they earn. Those earning between 5,000 and 30,000 Egyptian Pounds will pay 10% tax.

Those earning between 30,000 and 45,000 Egyptian Pounds will pay 15% tax whilst those earning 45,000 to 250,000 Egyptian Pounds will pay 20% tax and those earning over 250,000 Egyptian Pounds will pay 25% tax.

The changes are expected to cost the Treasury 4 billion Egyptian Pounds.

The Finance Minister also reiterated his commitment to implement a monthly minimum wage of 1200 Egyptian Pounds by January 2014.

For full story see: http://www.ahram.org.eg/NewsQ/238516.aspx and http://alhayat.com/Details/564206