In numbers .. Calculate the amount of your salary increase and your tax bracket

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Dr. Mohamed Moait, Minister of Finance, confirmed that there are specific assignments from President Abdel Fattah Al-Sisi to increase the wages of workers in the country during the next fiscal year 2020/2020, in a way that contributes to improving their incomes and raising their standard of living, within the framework of the state’s keenness to benefit all segments of society Of the returns from development and the fruits of economic reform.

The Minister said, in a press conference, on Sunday, at the Ministry’s headquarters, that the budget for the next fiscal year will witness a package of measures that contribute to improving the financial conditions of workers in the country, as part of efforts to reform the wage structure, in a manner that reduces the burden on the citizens, pointing to an increase in the extent of Tax exemption from 8 thousand pounds to 15 thousand pounds, in addition to the personal exemption limit of seven thousand pounds, and thus the tax until 24,000 (which is net after deducting insurance 22,000) will be tax-exempt, and provide a new tax bracket of 2.5% instead of 10%; This is reflected positively in the increase in net staff incomes.

He added that during the next fiscal year, employees addressed to the Civil Service Law will be granted a periodic bonus of 7% of the job wage on June 30, 2020 with a minimum of 75 pounds per month and without a ceiling, and workers who are not addressed to the Civil Service Law will be given 12% of the basic salary on June 30, 2020 With a minimum of 75 pounds per month and without a maximum, and not 10% as usual every year, with the aim of increasing the value of what they charge for being equal to their peers in the corresponding job levels of civil service employees.

He pointed out that during the next fiscal year, additional incentive will also be granted to all workers and employees in the state with cut financial categories that took into account the categories of occupants of the third degree and above, as the financial benefits in previous years were attributed to the occupants of the fourth, fifth and sixth degrees who will not be less than what they receive next year than It is scheduled for them this year, by: 150 pounds per month for those occupying the fourth, fifth and sixth grades or their equivalent, 200 pounds for those occupying the third degree or its equivalent, and 250 pounds per month for those occupying the second degree or its equivalent, and 300 pounds for those occupying the first degree or equivalent Ha, and 325 pounds per month for the occupants degree general manager or equivalent, and 350 pounds per month for the occupants degree Undersecretary of the Ministry or its equivalent, and 375 pounds per month for premium-class occupants or equivalent.

He emphasized that there are presidential assignments also to provide the necessary financial credits to implement the comprehensive state plan in dealing with any possible repercussions of the emerging Corona virus, and that an amount of one hundred billion pounds be allocated to deal with the effects of the spread of the virus, and the precautionary measures it contains, indicating that the Ministry of Finance is responding To the requests of the Ministry of Health to enable it to provide all medicines and medical supplies for all units, health centers and hospitals in the health sector at the level of the Republic, and 187.6 million pounds have been made available immediately to the Ministry of Health from the approved financial allocations, including: 153.5 Lyon pounds to buy raw materials and supplies to cope with the spread of Corona virus emerging, and 34.1 million pounds bonuses to employees quarantine and hospital isolation, and will the Ministry of Finance and the immediate making available for any amounts requested from the Ministry of Health or any other jurisdiction bodies to cope with the virus.





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