Middle East Economic Survey

VOL. XLVII

No 39

27-September-2004

EGYPT

BUDGETS AND REVENUES

Egypt Considers Reduction In Income And Corporate Tax

Egyptian Minister of Finance Yusuf Butros Ghali has announced that his government plans to cut income and corporate tax by about 50% as part of its program to reform the economy. Speaking at a conference of the ruling National Democratic Party, the minister estimated the cost of these cuts to the budget at some E3.5-3.6bn ($658-697mn), but said that that...