“The Finance Minister shall issue a decision amending the executive regulations of the law on the tax on built properties No. 196 of 2008 in a manner that ensures the implementation of the provisions of the law, within a period of six months from the date this law comes into force. Until such a decision is issued, the current law shall continue to apply insofar as it does not conflict with the provisions of this law.”
Fawzy added, “We want to establish a timeline that ensures the implementation of the provisions of the law.”
There was also a debate over Article (29 bis) of the property tax law, which stipulates that the tax debt and late-payment penalties due may be paid in installments, in whole or in part, by the taxpayer in the following cases:
- If the debt is not attributable to an apparent act of evasion
- If it is proven that the taxpayer has no assets against which enforcement can be carried out
- If a final ruling declares the taxpayer bankrupt and the bankruptcy proceedings are closed
- If the taxpayer has left the country for ten consecutive years without leaving assets that can be enforced against.
The Senate approved the text of Article Three, which regulates exemption from late-payment penalties.
