Momtaz al Saeed: Amended Real Estate Tax as of JanuarySource: www.export-egypt.com 7/14/2012, Location: Africa |
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Finance Minister Momtaz al Saeed said the law of real estate tax is to go into effect as of January next after it has been endorsed by the People's Assembly before dissolution. The Minister expected EGP 2 billion annually as revenues of this tax. An amendment into the real estate tax stipulated that the house is owned by the taxpayer and that the taxpayer resides in it so that it is exempted from the real estate tax.
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