Egypt scraps progressive tax plans

Egypt has scrapped plans for a progressive income tax system.

The proposals, submitted by a member of the Egyptian Social Democratic Party, would have seen a progressive system of taxation implemented across the country in an attempt to achieve social justice.

While the new levies may have seen individuals within the country enjoy a fairer financial outlook, with those earning more contributing more of their wages to state funding, the committee in charge of the country’s policies told Ahram Online that there were concerns such a Change would deter foreign investors.