Income tax on rent, worked example, in Egypt
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| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | US$12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Standard Costs2 (50%) | (9,000) | (36,000) | (72,000) | |
| = Taxable Income | 9,000 | 36,000 | 72,000 | |
| Income Tax Rates | ||||
| Up to EGP 6,500 | 0% | - | - | - |
| EGP6,500 - EGP 30,000 | 10% | 676 | 810 | 810 |
| EGP30,000 - EGP 45,000 | 15% | - | 776 | 776 |
| EGP45,000 - EGP 200,000 | 20% | - | 4,097 | 11,297 |
| Over EGP 200,000 | 22.50% | - | - | - |
| Annual Income Tax Due | US$676 | US$5,683 | US$12,883 | |
| Tax Due as % of Gross Income | 3.75% | 7.89% | 8.95% | |
| Thanks to: Moore Stephens |
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 USD = 5.80 EGP
3 Estimated values. Income-generating expenses are deductible when calculating taxable income. The maximum deduction allowed is 50% of the gross rent.
4 Rental income earned by nonresident individuals is taxed at progressive rates.
INCOMTE TAX |
|
| TAXABLE INCOME, ECD (US$) | TAX RATE |
| Up to 6,500 (US$ 1,121) | 0% |
| 6,500 - 30,000 (US$ 5,172) | 10% |
| 30,000 - 45,000 (US$ 7,759) | 15% |
| 45,000 - 200,000 (US$ 34,483) | 20% |
| Over 200,000 (US$ 34,483) | 22.50% |