Egypt investors’ union call for progressive tax

The report highlights the need for preventing import of certain commodities The Union of Investors Association published a report detailing steps it found necessary for Egypt to overcome the current financial crisis and highlighting the need for a progressive taxation system The Union’s Chairman Mohamed Fareed Khamis said capitalist countries, including the US, already implement such a system.
According to the Union, the government needs to adopt a national program in the short term to contain the current deficit and to halt the fall of the dollar.
Furthermore the report highlighted the need for preventing the import of certain commodities for the next three years adding that government spending need to be rationalised during the same period similar to Italy, France, Spain and the US.