Egypt to implement new tax law

Egypt's government will implement a new tax law on July 1, the state-owned el-Gomhuria newspaper reported on Saturday. The government last year proposed a law cutting income tax and corporate tax on most firms by 50 about percent. Parliament would on Saturday resume its debate on the law, which would go to the president for approval, the paper said.
The tax cuts are part of economic reforms introduced by a new cabinet appointed last year. The government made steep cuts in customs duties in September.