Egypt Extends Property Tax Registration

The Egyptian government has decided to extend the registration period for the electronic real estate tax system until the end of December, instead of the originally scheduled end of September. This extension aims to address technical issues that caused delays in registering over 2 million property units and involved 1.5 million citizens using the app. The move is intended to encourage compliance with the real estate tax, which is levied on residential and commercial units at rates ranging from 10% to 25%. Incentives include a 25% discount on residential apartments and a 10% discount on non-residential units. Recent legal amendments have expanded the group of eligible taxpayers and increased the exemption threshold from 2 million to 8 million Egyptian pounds, with the goal of boosting tax compliance and strengthening Egypt's real estate wealth base. The Minister of Finance also emphasized improving the application system and increasing technical support to assist citizens, especially those residing abroad who face challenges in registration.

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