The fiscal year starts on January 1st and ends on December 31st the same year.
The accounting obligations result from the Companies Act no. 159 of 1981 and Financial Market and Money Market Act no. 95 of 1992. The Accounting Plan (the Egyptian accounting standards) is close to international accounting standards.
According to the law, all companies must present to the shareholders during their annual meeting an audit report, a balance sheet, an income statement and cash flow statement.
After its initial public offering, the company must present every three months a detailed report of its business (business progress and results). Each year, a progress report and a report of the accounts (before certification) must be sent to the Capital Market Authority one month after the fiscal year end at the latest. The certified accounts cited on the Official Schedule 1 must be published in two reference journals of which at least one must be in the Arabic language.
The GST (General Sales Tax) rate is 10%, except for some products : - 25% to televisions, radios, jewelry and certain motors vehicles; - 30% to luxury goods such as cosmetics, video cameras, and high-value vehicle.
Reduced Tax Rate
Reduced rates of 5% or 10%, depending on their type: - 5% to some foodstuffs, fertilizers and locally produced medicines; - 10% to hotel and tourism services, specific international communications and certain services.
Other Consumption Taxes
Excise duty is also collected on alcoholic drinks and coffee. An additional duty is collected on brandy, cognac, gin and whisky.
Long-term capital gains are subject to tax on the companies at the standard rate (20%). Profits from movable capital are not taxable.
Main Allowable Deductions and Tax Credits
Setting up in special economic zones entitles the company to tax benefits. They are only taxed at 1% of their profits or operations. For additional information access Tax Policies in Egypt on the Egyptian-British Chamber of Commerce's Website.
Other Corporate Taxes
A tax on real-estate assets has been put in place in June 2008. It is up to 10% of the rental value whether the property is rented out or not. If the property is rented, the rental value is the effective value of rent collected by the owner if it is higher than 7% of the purchase value. The owner is exempted from landed property if the value of the property is less than or equal to EGP 500,000.
Country Comparison For Corporate Taxation
Middle East & North Africa
Number of Payments of Taxes per Year
Time Taken For Administrative Formalities (Hours)
Total Share of Taxes (% of Profit)
- Last Available Data.
Individual income tax
Progressive rate from 0% to 25%
Up to EGP 5,000
From EGP 5,001 to 20,000
From EGP 20,001 to 40,000
From EGP 40,001 to 10,000,000
More than EGP 10,000,000
Allowable Deductions and Tax Credits
Deductible Costs: - Pension scheme amounts; - Life and health insurance.
Special Expatriate Tax Regime
No special tax regime for expatriates.
Double Taxation Treaties
Countries With Whom a Double Taxation Treaty Have Been Signed
Patents are protected by the Patents' Office which reports to the Education Department. Designs and trademarks are protected respectively by the Office of Designs and Models and Office of Trademarks which are departments of the Trade Register, an administrative service which comes under the Ministry of Trade and Industry. It is possible to obtain licenses for using patents and trademarks, but the agreements to use patents which involve payments outside the country must be authorized by the General Authority for Investment (GAFI). As for copyrights, they are handled by authors' societies.
No regional regulation bodies for intellectual property.
The Egyptian legal system is considered as the most independent system of the Arab world. However, the activities related to politics and national security are usually handled by special courts.
Equal Treatment of Nationals and Foreigners
Foreign nationals can face certain difficulties during the course of their legal proceedings.
The Language of Justice
Recourse to an Interpreter
It is possible to have recourse to an interpreter.
Sources of the Law and Legal Similarities
The primary source of the law is the Constitution of 1971. The legal system is highly influenced by the French law. It also has influences from the common law. In fact, Sharia is crucial for the questions of civil status.
EOS, Egyptian Organization for Standards & Quality NIS, National Institute of Standards
Integration in the International Standards Network
Egypt recognizes the ISO standard. It also accepts the European standards, British, Japanese and American standards. When there is no national standard for a product, Egypt normally uses the ISO standard, the IEC or the codex alimentarius.
Classification of Standards
EGP then a number / year.
Online Consultation of Standards
The Egyptian standards can be accessed from the EOS website on payment.
EOS Egyptian Organization for Standardization & Quality EGAC Egyptian Accreditation Council
Cyborlink, Website giving information on business etiquette. World Biz , Website giving information on business etiquette. Businessculture, Website on Egyptian business culture.
Opening Hours and Days
Banks: from 8:30 to 14:00 from Sunday to Thursday. Public administration: from 8:30 to 15:00 from Sunday to Thursday. Businesses: from 8:30 to 15:00 from Sunday to Thursday.
Coptic Christmas day
Sinai Liberation day
Armed Forces Day
Cham El Nessim (Spring Festival)
The first Monday following Orthodox Easter
Aid El Fitr (Ramadan Feast)
3 days public holidays marking the end of Ramadan
Aid el Adha (Sacrifice Feast)
4 days public holidays, 70 days after the end of Ramadan
Islamic New Year
Prophet Mohamed's Birthday
Coptic Easter Monday
Periods When Companies Usually Close
Aid el Fitr (Ramadan Feast)
3 days at the end of Ramadan
Aid el Adha (Sacrifice Feast)
4 days, 70 days after the end of Ramadan
During the month of August, business is particularly slow