Real estate Tax Payment Deadlines and Exemptions
A statement has been issued by the Real Estate Tax Authority regarding new tax facilitations for the year 2023. The authority has set the deadline for the payment of the first installment of the annual property tax for residential and commercial property owners on June 30, without imposing any penalties, Payment of the second installment is also allowed during the period from July to December.
In case taxpayers are dissatisfied with the property tax assessment, they have the right to submit an appeal to the competent authority to challenge the assessed rental values and property tax calculations for built properties.
The statement also mentioned several exemptions from real estate tax, including the exemption of property owners in the event of demolition or damage to their properties, as well as units designated as the primary residence for families with a value less than two million Egyptian pounds. However, applicants for exemption must submit a request to the relevant authority along with photocopies of property ownership, usufruct, or utilization contracts, utility bills, and national ID cards.
Regarding beneficiaries who cannot pay the tax due to social circumstances, the General Treasury of the State will bear the property tax according to specified procedures and regulations.
Additionally, the statement mentioned that the poultry sector has been included among the industrial and productive sectors for which the General Treasury of the State will bear the real estate tax on their behalf until the end of December 2024.
To conclude, this article aims to inform readers about the details of these tax facilitations and the related procedures, such as the specified deadlines for property tax payment and the exemptions available to certain property owners. It also highlights the efforts made by the government to stimulate investment, develop industrial and productive sectors, and enhance the local economy’s competitiveness on the global stage.
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