Egypt's economic ministers have reportedly agreed to reduce the corporate and individual income tax top rates from 30% to 22.5%. The standard corporate tax rate and top marginal individual tax rate of 25% were increased in 2014 by 5% for taxpayers with income over EGP 1 million. The increase was to last for 3 years, but is no longer seen as needed.

The new rates are also expected to apply to b…