Mr. Anwar El-Sadat launched a public campaign called “Zytna Fe De’ena” to add an amendment on Article no.
23 of the Income Tax Act regarding donations and subsidies paid to the associations and institutions.
The campaign’s purpose is to collect only 10% as tax from individuals, not from the net profit as provided in the current law, however, in the case that this law is approved 5 billion pounds will be on hand in the first three years and this amount will be given to the civil society organizations to be spent on development projects.
He added that this proposal will encourage the citizens to contribute in public work.
23 of the Income Tax Act regarding donations and subsidies paid to the associations and institutions.
The campaign’s purpose is to collect only 10% as tax from individuals, not from the net profit as provided in the current law, however, in the case that this law is approved 5 billion pounds will be on hand in the first three years and this amount will be given to the civil society organizations to be spent on development projects.
He added that this proposal will encourage the citizens to contribute in public work.
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