GROW YOUR BUSINESS IN EGYPT
Have an enterprise level payroll department and a HRMS with Employee Self-Service at a per employee cost
Praxima Services Includes
Full Payroll Outsourcing
Hybrid Payroll Outsource
International Payment Management
Social Security Filing
Interact with Local Authorities
Human Resources Management System
Integration with all Accounting and Third Party
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Local Tax Compliance
Secure Data Transferring
Running Your Payroll
Focus on Your
Egyptian Payroll Processed to International Standards
Payroll Processing in Egypt
Income taxes are withheld by the employer and remitted to the tax authority within the first 15 days of the following month. Employers also withhold social security contributions which are then remitted to the Social Insurance Organisation.
TAX RATES | 2022
Tax Rates: Egyptian Pound (EGP):
0%: 0 - 15,000
2.5%: 15,000 - 30,000
10%: 30,000 - 45,000
15%: 45,000 - 60,000
20%: 60,000 - 200,000
22.5%: 200,000 - 400,000
25%: 400,00 +
TAXABLE INCOME | 2022
Taxable income includes that derived from employment, commercial and non-commercial activities and capital gains on the sale of unlisted shares.
The aforementioned brackets also apply to non-residents on income received from the Egyptian treasury or on work performed in Egypt. Please keep in mind that both residents and non-residents are eligible for an EGP 9,000 annual salary tax exemption.
Resident employees are taxed on both income earned within Egypt and on their worldwide income. Non-residents are only taxed on their income earned within Egypt. An individual is deemed to be a resident in Egypt if he/she is:
Present in the country for more than 183 days in a fiscal year
Has a permanent home in Egypt
Is an Egyptian national deriving an income from an Egyptian source while residing abroad.
Statutory Filing |
Income taxes must be remitted to the applicable tax office within 15 days of the month following the last remuneration.
Individuals are required to submit a declaration of income by 31 March after year end and pay any taxes based on the declaration. It is the employer's responsibility to withhold and pay salary taxes to the relevant tax authority monthly.
Should an employee be on a temporary residence permit of does not have citizenship, he/she will be required to file a tax return on the 1st of January, alternatively a quarterly tax return filed by the employer.
Social Security | 2022
The Social Security System includes the following:
Old age, disability and death insurance
Social Care for Pensioners
Occupational Accidents Insurance
Employee: 10% of monthly covered earnings + 3% of monthly base earnings for lump-sum benefits
Employer: 15% of monthly covered payroll + 2% of monthly base payroll for lump-sum benefits Employers who provide certain types of arduous and dangerous work contribute more.
Your HRMS is Standard
PAYMENTS, REPORTING & FILING
Direct payment into employee bank accounts. Emailed password protected pay slips.
Payment of taxes, benefit providers and other creditors.
Filing of returns to the authorities.
Generation and filing of statutory reports.
General ledger and 100's of customisable reports.