Professional Documents
Culture Documents
In Egypt, in 2016, the standard rate of corporation tax was 22.5%. Oil
exploration and production firms, however, were charged a higher rate of
40.55%. After a tax free allowance, the rate of income tax increased from
10%, to 15%, to 20% and then 22.5% as income rose.
a Explain why a government may charge oil firms a higher corporation tax
rate than other firms.