Parliament raises tax exemption limit to LE24,000 a year

The Parliament decided on Tuesday to raise the tax exemption limit from LE13,500 to LE24,000 a year.
MP Mohamed al-Suwaidy, head of parliamentary coalition Egypt's Support, filed a request during Tuesday's general assembly demanding that the tax exemption limit be raised due to price hikes following the flotation of the Egyptian pound late last year.
Parliament Speaker Ali Abdelaal said the parliament agrees with Suwaidy's opinion. 
"This will be the first happy news by us to the people," Abdelaal said, adding he would notify the Cabinet of the decision.
The Cabinet will need time to study the request, said Minister of Legal Affairs Magdy al-Agaty.
Abdelaal responded that the parliament has already taken its decision, which is in favor of citizens, and the Cabinet has to apply it.
Edited translation from Al-Masry Al-Youm

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