The income tax law & executive regulation

Important tax dates

  •  Yearly tax returns: form  no.  27 and 28
    submit for natural persons before March 31 of each year and for legal persons before April 30 of each year.
  • payroll tax Report : form  no 4

        Submit to the competent tax office, a quarterly tax return in January, April, July and October of each year on

  • Sales tax return:  form 10

For the producers of goods and services submit sales tax return during the two months following the end of the tax.

       Except April of each year, submit before the fifth day of June of the same year.

  •  For producers of commodities:   Table (1)

Submit sales tax return during the month following the end of each month


  • Stamp Tax Returns:

           Company  are obliged to pay the tax for advertises during two months of the date of announcement.

Development projects

In accordance with Article 9 of the Act and article 11 of its executive

Each benefit Cash or the like are taken by project staff Subject to payroll tax.

Refer to the law No. 114 of 2008 issued on May 5, 2008 ,  which  containing the article No.2 , which states:
1 – canceled each item (1) of Article (36) of the Income Tax Act issued by Law No. 91 of 2005, which states : tax-exempt educational institution under the supervision of the government or the supervision of legal persons or to the supervision of the public sector.
2 – canceled each item (2) of Article (50) of the Income Tax Act issued by Law No. 91 of 2005,which  a tax-exempt educational establishments under the supervision of the State not-for-profit basis
Thus, the exemption was cancelled  and educational facilities will be subject to tax profits of non-commercial Activity
As a consequence should  the financial management of educational facilities give  attention to the processing of tax returns for the preparation of the end of the year Tax return reports , which requires many respects, for example:

  • keep records and accounting books up today
    •Record day by day in Legal  Accounting books and records
  • set accounting structure and Document cycle
  • set internal control points of accounting cycle .
    • Records all income and expenses transaction by  transaction and must all be with supported documents
    • retain supporting documentation for both income and expenses on a regular basis and prepared in accordance with the final accounts, pending it for  inspection period before tax or passing the legal period which requiring keeping the document which 5 year .
    • Record fixed assets register and updated it  , keep the documentation for  add or exclude any piece of the foxed assets (and for the purpose of calculating the depreciation of accounting and taxation)
    • Keep inconsideration that the expense with unsupported document not exceeds 7 % of expense with supported documents
    • An analysis of all company’s accounts ( Creditors, debtors )
  • Analysis all amount paid to shareholders and members of directors
  • Analysis of loans and sources of financing facilities.
    • Loans and financing facilities granted to others.
    • Commitment to deduct the tax from employees and consultants and all the staff of the facility and paid payroll tax paid per month to tax authority

Assurances services

Financial Statements Audit :

 Our audit is performed in accordance with The Egyptian auditing standards in conformity with the Egyptian laws and regulations. Also we take into consideration Generally Accepted Auditing Standards (GAAS) to provide a reasonable assurance that the company’s financial statements are free of material errors or misstatements and present fairly with compliance with Egyptian accounting standards , monitoring the international standards   GAAP and IFRS. 


Our Assurances services include:

  1. Statutory Audit
  • Annual statutory audits
  • Quarterly reviews
  • Compilation of financial statement
  • Agreed upon procedures
  • Internal control assessments

This works through this mission accomplish throughout examining on test basis Our Audit includes the following:

  • Auditing the company accounting records and documents on a test basis in accordance with the auditing procedures and in light of the company activity and circumstances.
  • General evaluation of the financial statements presentation method and the disclosures to ensure its compliance with the Egyptian accounting standards and regulations.
  •  Conducting regular review during the year including review and evaluation of internal control systems applied by the company as well as performing tests to verify sound application of these systems.
  • Final review at year-end .
  1. Assurances services for Non-profit Organizations
  • Fund accountability statements
  • Internal control evaluations
  • Compliance with applicable laws and regulations
  • Agreed upon procedures/reviews
  • Procurement audits
  • Governance reviews

Financial Accounting Services

We have a highly professional team to give accounting advisory services and to make entries in financial accounts under a wide range and multiple accounting techniques including :-


  • Accounting Support

         Design and support financial information systems

         Prepare books in accordance to legal requirements

         Prepare financial statements


  • Accounting Systems

         Design financial information system

         Supervise implementation of financial information system

         Monitor effectiveness and efficiency of system use and implementation

  • Payroll process & administration

         Prepare payroll related tax and social insurance returns

         Prepare documentation and calculation of payroll tax

         Monitor correct application of laws and regulations


  • Legal  Books

         Maintain general ledger in accordance to local requirements

         Maintain stock books in accordance to local requirements

         Reconcile trial balances with audited financial statements


  • Social Insurance

         Prepare and present legal records for social insurance authority

         Oversee social insurance procedures at company level

         Prepare employee contracts and records according to labor law

Investment & Companies Foundation

1– Foundation of all kinds of joint stock companies, partnerships and individual enterprises as well as branches of foreign companies, representative’s offices, Liaison offices and scientific offices.

2- Consultations in the field of companies’ affairs and related laws.

3- Economic feasibility studies of projects.

Tax Consultations

  Ismail M. & Mohamed Ismail office (Public Accountants)    has a group of tax experts specialized in all kinds of taxes “corporate tax – salaries & wages tax – fiscal stamp tax – non-commercial professions – sales tax and custom duties”. The office has long experience in dealing with tax authorities and its affiliated inspectorates in the following fields: 

1-     Preparing annual tax returns for all kinds of taxes

2-     Preparing monthly tax returns for sales tax

3-     Providing prompt tax consultations in all taxes

4-     Settlement of any tax disputes


   Corporate Tax

  This is the principal tax in Egypt. It is the tax that applies to the net profits of the corporations that operate in Egypt. For this reason, ISMAIL M. & MAHMED ISMAIL (PUBLIC ACCOUNTANTS) office    has hired groups of professionals specialized in dealing with the tax authorities.

  Corporate Tax services include :

         Prepare corporate tax return

         Present documentation to tax authority

         Handle all necessary meetings, negotiations and appeals


   Income Tax

 This Tax imposed on both Egyptian and foreign employees, and it is the responsibility of the company to deduct the tax and deliver it directly to the respective tax commission according to the pre-stated official schedules.  ISMAIL M. & MAHMED ISMAIL (PUBLIC ACCOUNTANTS) office regulates the deduction and ensures the delivery of this tax according to the law  

 –         Salaries & Wages Tax include

         Formulate payroll structure with optimum tax benefits

         Organize employee payroll in accordance to tax authority requirements (local & foreign)

         Oversee salary tax payment to tax authority

         Prepare & present tax reconciliation reports to tax authority

         Handle all necessary meetings, negotiations, appeals

   Sales Tax

         This Tax applies to all industrial .It applies also to imported goods. Its importance lies in the fact that it is examined by the tax authority annually or semi annually, ISMAIL M. & MAHMED ISMAIL (PUBLIC ACCOUNTANTS)  

Sales tax services includes:

          prepares the company’s sales tax declaration forms in order to guarantee accurate and timely payments

         Present documentation to tax authority

         Handle all necessary meetings, negotiations and appeals


   Fiscal Stamp Duty

   This type of tax concerns companies activities and could result in problems especially for banks, insurance companies, printing and publishing and advertising agencies.  ISMAIL M. & MAHMED ISMAIL (PUBLIC ACCOUNTANTS) office elaborates a careful Stamp Tax plan according to the nature of the company’s activities,

Service includes:

         Prepare for fiscal stamp duty examination

         Present documentation to tax authority

         Handle all necessary meetings, negotiations and appeals


   Withholding tax

         Revise calculation of withholding tax

         Prepare and present tax forms to tax authority

         Monitor control procedures for withhold tax at company level

         Handle all necessary meetings, negotiations and appeals


    Tax Planning and Consultancy

         Review tax status of entities

         Identify and estimate tax liabilities

         Deliver advice on local tax matters

         Recommend tax cost savings scheme

Providing consultancy in the organizational structure of the company and the development of Organization chart to get the best result from the re-use of human resources within the company .