The Real Estate Tax Authority has released a statement introducing new tax facilitations for 2023. Property owners, both residential and commercial, have been granted a deadline extension for the first installment of their annual property tax until June 30, with no fines imposed. The second installment can be paid anytime between July and December.
If taxpayers are not satisfied with the tax assessment, they have the right to submit an application to the competent authority to appeal the rental value estimates that have been adopted for calculating the tax on built properties.
The statement also mentions several exemptions from property tax. Property owners whose units have been demolished or damaged are exempt from property tax, as well as units that serve as the main residence for families and have a value less than two million Egyptian pounds, provided that the applicant submits a request to the relevant authority along with photocopies of the ownership, usufruct, or exploitation contracts, utility bills, and national ID card.
Regarding beneficiaries who are unable to pay the tax due to social circumstances, the General Treasury of the State will bear the property tax burden in accordance with specific procedures and regulations.
Additionally, the statement mentions that the poultry sector has been included in the industrial and productive sectors where the General Treasury of the State will assume the property tax on their behalf until the end of December 2024.
To conclude, this article aims to provide readers with comprehensive information regarding tax facilitations and the corresponding procedures, including specific property tax payment deadlines and exemptions applicable to certain property owners. Additionally, it emphasizes the state's commitment to promoting investment, advancing industrial and productive sectors, and strengthening both the local economy and global competitiveness.
Originally published 12 July 2023
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.