The House Planning and Budget Committee in Egypt is mulling to amend the Income Tax Law by adding a new tax amounting to 25 percent on high income earners, or those with annual salaries of more than EGP 500,000 (approximately $28,000). According to the income tax law, Egyptians pay taxes based on their annual income. The first segment includes income holders of no more than EGP8,000 who are fully exempted from taxes, the second segment involves those with an annual income ranging between EGP8,000 and 30,000, who pay a 10 percent tax. Egyptians with incomes ranging between EGP30,000 and 45,000 pay a 15 percent tax, while the fourth segment (EGP45,000 to 200,000) pays a 20 percent tax and the last segment, which receives more than EGP200,000, pays taxes amounting to 22.5 percent. MP Mervat Alexan, who submitted the proposal, told Asharq Al-Awsat that the amendment aims "to achieve justice by letting higher income earners contribute to the finance of the countrys tax revenues, which account for the bulk of the total state revenues, nearly 80 percent." “High-income earners should contribute to help those with low-income,” Alexan explained. According to Alexan, the proposal will be presented to the parliament, which in turn will review it and prepare a report to vote on it. A date will later be set to include the draft-law on the Parliaments agenda for discussion.