Cairo — Mubasher: The Egyptian finance ministry is working on formulating a new bill for real estate taxes, a government source said on Wednesday.
The draft law is to streamline the procedures of counting and estimating properties and raising their real estate taxes regularly, the source told Enterprise.
Proposed amendments to the property tax law, which are being reviewed by the Egyptian parliament, would be a “stop-gap measure” until finalising the new bill of the real estate holdings.
In early December, Egypt’s House of Representatives approved a bill to amend some provisions of Law No. 196 of 2008 to impose a tax on built properties.
