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Financials

Egypt cabinet approves raising minimum income tax threshold to 7,200 EGP

CAIRO, May 29 (Reuters) - Egypt’s cabinet approved raising the minimum income tax threshold to 7,200 Egyptian pounds ($398) a year from 6,500 pounds, Deputy Finance Minister for fiscal policies, Amr al-Munir told a news conference on Monday.

The decision has yet to be approved by parliament. ($1 = 18.0950 Egyptian pounds) (Reporting by Ehab Farouk; Writing by Asma Alsharif)

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