Property taxes: 56 pounds for an 8 million pound home

Mohamed El-Sayed, Deputy Chairman of the Real Estate Tax Authority, confirmed that Law No. 3 of 2026 on real estate taxes includes a package of 17 procedures designed to facilitate taxes for citizens, encompassing several important amendments. Among the most prominent modifications is the increase in the exemption threshold from 2 million Egyptian pounds to 8 million pounds, along with a 25% discount on the payable tax, in addition to an extra 5% discount for early payment. This brings the total discount to 30% for residential units. Additionally, the procedures have been simplified by allowing taxpayers to submit their declarations electronically from home via an application, eliminating the need to visit the tax office itself. This service covers 27 governorates. Regarding non-residential units, a 10% discount is granted upon submission of the declaration, along with a 5% discount for early payment. Additionally, late penalties on previous debts are waived if paid early. The deadline for submitting tax declarations has been extended until the end of December 2026, and procedures for amicable settlement of tax disputes have been facilitated until April 2027, all aimed at reducing burdens and making the payment process easier for citizens.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article