Egypt expects to collect $388.5mn in property tax revenues

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Egypt expects to collect $388.5mn in property tax revenues

Post by DJKeefy » Sun May 12, 2013 7:25 am

Egypt’s government expects to collect around LE2.7 billion (roughly $388.5 million) in revenues from property taxes imposed on 15 million units and that have been counted by the tax authority’s committees, reported the state-owned Arabic-language news website Al-Ahram.

Hassan Abbas, head of Egypt's Property Tax Authority, said that there are 17,000 constructed factories under assessment of the taxing committees to determine their cash commitment.

Property owners will receive a note from the tax authority in July informing them of the sum they are required to pay in property taxes, Abbas stated Wednesday.

He added that property owners would have 60 days in which to file an appeal if they believe the requested amount has been overestimated. The government must reply to all appeals within 30 days.

Recent amendments to a 2008 property law exempted single-home owners from the tax and raised the bracket for taxable properties from LE500,000 (roughly $72,000) to LE2 million (roughly $287,000).


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Re: Egypt expects to collect $388.5mn in property tax revenu

Post by LovelyLadyLux » Sun May 12, 2013 6:07 pm

I don't know this answer and the question just came to me when I read this......Question is: Are land plots surveyed there with corresponding owners names attached?

Here I can find property stakes in the corners of my land designating down to the millimetre what is mine and I pay tax based on location, assessed value, levy rates re: school, hospital, library etc etc etc

Is this how property tax will be calculated there?

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Re: Egypt expects to collect $388.5mn in property tax revenu

Post by Chocolate Eclair » Mon May 13, 2013 4:37 am

Its not before time either, lets hope there is a set amount for Square Metre of unfinished and empty buildings too! Along with any place having Water and Electric supply, legal or not!!!

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Re: Egypt expects to collect $388.5mn in property tax revenu

Post by Chocolate Eclair » Thu May 23, 2013 7:29 am

Maybe a Poll Tax might be a better option, but one based properly not like the UK one that was based on the working class paying for everyone else.

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Re: Egypt expects to collect $388.5mn in property tax revenu

Post by Bearded Brian » Thu May 23, 2013 5:07 pm

The fairest system is a mixture of council tax (based on property value) and poll tax (based on the number of people in the property). That way those with expensive houses still pay more but those single householders don't pay nearly as much as the house next door with 15 Poles living in it.

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Re: Egypt expects to collect $388.5mn in property tax revenu

Post by Dusak » Thu May 23, 2013 10:05 pm

...and if your house is up for sale, you don't pay as it saves them a lot of paperwork when its sold. :up
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Re: Egypt expects to collect $388.5mn in property tax revenu

Post by Chocolate Eclair » Fri May 24, 2013 4:44 am

15 Poles BB, you are lucky living next to a half empty house for the peace and quiet. :lol:

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