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A draft law is being considered by the Egyptian Parliament to introduce a progressive tax of 30% on annual incomes exceeding LE 1 million, Egypt Independent reports. Legislative Committee MP MoustafaBakry told Youm 7 that there will be a societal dialogue with Egyptian businessmen to reach the optimum tax percentage, ensuring that many of these businessmen already acknowledge the importance of wealth distribution to lift the financial burdens on the poor. He added that the bill might be imposed temporarily…
