1st Apr 2015

HITS is always keen to keep customers updated with the latest changes occurring in the Tax, Insurance, Labor Law, and any governmental proceedings. Thus, we are ready to apply the updates when the customers is ready.


1- New amendments in the TAX regulations in Egypt
As of June 2013 the Egyptian government will activate the following amendments:
• The personal exempted amount is 4000 pounds, will be 7000 pounds as of September 2013.
• Acknowledging income tax rate of 10% of annual income ranges between 5000 – 30000 pounds, and 15% tax on annual income between 30.000 and 45.000 pounds, and 20% on annual income between 45.000 – 250.000 pounds, and 25% of annual income over 250.000 pounds.

2- Amendment in the Egyptian Insurance Law
As of July 2012 the new regulations were activated: The Social Insurance Basic (Maximum) is 912.50 L.E and the Social Insurance Variable (Maximum) is 1200.00 L.E

3- Changing the weekend in Saudi Arabia
Saudi Arabia decided to change the weekend for both the public and private sectors to Friday and Saturday instead of Thursday and Friday. This will be applied from the beginning of July 2013.