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Up to 30% Property Tax Discount
The article details the new property tax, focusing on discounts of up to 30% for residential units and the eligibility criteria for exemptions for units valued at less than 8 million Egyptian pounds, provided that the unit is the taxpayer's primary residence. The head of the Tax Authority clarified that submitting the tax declaration on time before the end of September guarantees a 25% discount for residential units and a 10% discount for non-residential units, with an additional 5% discount available if the payment is made in advance. The procedures also include registering units electronically through the "Egyptian Real Estate Tax" app and checking outstanding balances online, with tax payments made via digital methods. Units valued at less than 8 million pounds are exempt from tax, while any amount exceeding this is taxed at a rate of 1.26% per million pounds. The article pointed out that tax evasion and late payments could result in monetary fines, and a support team has been assigned to facilitate procedures for citizens.
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