Egyptian Senate discusses amendments to real estate tax law

The Egyptian Senate discussed during its plenary session on Sunday a report on a government-proposed bill to amend certain provisions of Law #196 of 2008 concerning the tax on built properties.

The Chairman of the Senate’s Committee on Financial, Economic, and Investment Affairs, Representative Ahmed Abu-Hashima, presented the committee’s report.

Abu-Hashima said that amending the property tax law is part of the first phase of the tax relief initiative, which includes legislative reforms.

He explained that this aligns with a vision to ease the tax burden, taking into account the social and economic circumstances of property taxpayers – whether when filing tax returns or paying the due tax and late payment penalties, and working to simplify and automate tax procedures.

Abu-Hashima added that the amendments include simplifying filing tax returns, reforming and developing the tax appeal system, easing the burden on taxpayers in dispute over tax bases, increasing the tax exemption threshold for private residences, waiving taxes for taxpayers during crises, and simplifying tax relief procedures.