Egypt: Amendments to Executive Regulations to Property Tax Law Referred to State Council

Analysis

Egypt's Finance Ministry has announced the amendments to the Executive Regulations to the Property Tax Law have been finalised and have been referred to the State Council for further consideration.

The Finance Minister, Hani Qadri Damian said the amendments are being referred to the Council to ensure the legality of the process as relevant parties can now appeal against a decision and request an exemption for private properties.

Damian added the Tax Department will issue guidelines soon to deal with problems which may arise in the implementation of the amendments, especially regarding inherited properties and properties allocated to children but still in their parents' name.

Special standards will also soon be set to evaluate non-residential properties for tax purposes. Officials from the Finance, Tourism, Petrol, Transport, Civil Aviation and Investment ministries are discussing the new standards.

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