New Egypt tax law: cuts for poor, business hikes

Associated Press
New Egypt tax law: cuts for poor, business hikes

The sun sets over the Nile River and the historical site of the Giza Pyramids as seen from Cairo, Egypt, Tuesday, May 21, 2013. Egypt's president has signed a new tax law that cuts the amount paid by poorer Egyptians while increasing taxes on small and medium-sized businesses. The measure is among many economic reforms the government is trying to impose to control its burgeoning budget deficit. Egypt is negotiating a $4.8 billion loan from the International Monetary Fund, which is pushing for economic revisions.(AP Photo/Amr Nabil)

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