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Tax rates in Egypt lower than global average: report
- Egypt: Tuesday, November 27 - 2012 at 05:37
According to a report by the World Bank and its private sector arm, International Financial Corp (IFC), Egypt's average total tax rate is well below the world average, Ahram has reported. The country's total tax rate is 42.6% divided into income, profit and labour taxes, while the global average reached almost 44.7%, the report said. Egypt tax revenue is an average of 14.1% of total GDP, with an expected total of EGP232bn to be collected in 2012, according to the finance ministry's general budget report for the year 2012/13. This rate is considered low compared to global tax revenues.
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