|20 May, 2020

Egypt to take 1% from public salaries due to coronavirus

The tax will be imposed across all sectors of the economy

An employee counts money in a foreign exchange office in central Cairo, April 15, 2015. Image used for illustrative purpose.

An employee counts money in a foreign exchange office in central Cairo, April 15, 2015. Image used for illustrative purpose.

REUTERS/Asmaa Waguih

CAIRO- Egypt will deduct 1% from public salaries for 12 months beginning on July 1 to offset with the economic repercussions of the coronavirus, the cabinet said on Wednesday.

The tax will be imposed across all sectors of the economy, and 0.5% will also be deducted from state pensions, the cabinet said in a statement.

(Reporting by Moamen Said Atallah Writing by Aidan Lewis; editing by John Stonestreet) ((Aidan.Lewis@tr.com; +20-1001174410;))