Head of the real estate tax authority Ismail Abdel Rassoul has reiterated that the real estate tax law targets social justice and involving the taxpayer in the development process in Egypt.

Mr. Ismail...

Head of the real estate tax authority Ismail Abdel Rassoul has reiterated that the real estate tax law targets social justice and involving the taxpayer in the development process in Egypt. Mr. Ismail added that the new law is to be discussed in the People’s Assembly and is to be noted for its simplicity and straightforwardness. He noted that the new law stipulates that an annual tax law on real estate is to be in place whether the construct is built on a temporary or permanent basis. Mr. Ismail noted that the real estate tax is applicable on built contructs on agricultural land within city bounds while eradicating in this instance the tax on the agricultural land. The law has listed the type of contructs which will not be subject to taxation as such constructs that have been built for public benefit and religious constructs. (source: Al-Gomhuriya)