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اليوم السابع
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Calls to review real estate tax increases
The article discusses the issue of property tax in Egypt, with a focus on a legal violation related to the increase in rental values that exceeds the permissible limits. The report indicates that the maximum allowed increase is 30% for residential properties and 45% for non-residential properties, but recent estimates show a 273% increase in the rental value of non-residential properties. This breach of the law results in higher-than-allowed tax assessments. The article explains that Law No. 196 of 2008 regulates the tax on built properties, and the deferment of its implementation began in 2013. The law applies to all properties built on Egyptian land, including villas, apartment buildings, chalets, and vacant lands that are in use. An amendment aimed at linking rental values to market prices has also been introduced. In conclusion, there is a significant legal violation in the calculation of rental values, which threatens the imposition of unlawful taxes and calls for reconsideration and correction.
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