- Real Estate Tax Law Amendment
- February 13, 2019
- Law Firm: - Office
- Law No. 196 of 2008 was introduced on the 23rd of June 2008, and its Executive Regulation No. 493 of 2009.
- The application of the law will begin after June 30th 2013
- Prior to this, the law was subject to numerous amendments.
- We are currently in the final provision amendment stage of the Real Estate Tax Law No. 196 of 2008 with the issuance of Law No. 4 of 2019 taking place on February 7th 2019, which replaces article 9, item 1 of the Real Estate Tax Law issued by Law No. 196 of 2008 as follows:
Item before amendment:
- The tax liability that is related to the first estimate is due from July 1st 2013, and thereafter shall be due from the first of January of each year in accordance with the provisions of the law.
- This estimate shall be valid until the end of December 2018.
Item after amendment:
- The tax liability that is related to the first estimate is due from July 1st 2013, and thereafter shall be due from the 1st January of each year in accordance with the provisions of the law.
- This estimate shall be valid until the end of December 2021.
Accordingly, the real state estimate for the first period will be for 8 years instead of 5 years, however this will be for the first period, and going forward the estimate will be for 5 years.
Responsibility and Commitment:
Andersen Tax & Legal Egypt’s tax team has prepared this summarized tax alert to introduce Law No. 4 of 2019. Efforts have been combined to produce this alert with clear and accurate content however this report aims only to spread general information and should not be treated as a legal document or a document that can be used for decision making, or for issuing specialized consultations. Please contact Andersen Tax & Legal Egypt for tailor made solutions.