20 August 2014

Egypt: Presidential Decree Amends Real Estate Tax Law

President Abdel Fattah El Sisi issued on Tuesday 20/8/2014 a decree no. 117 of 2014 amending some provisions of real state tax law no. 196 of 2008.

The decree, published in the official gazette today, stipulates the exemption of buildings owned by NGOs, labor organizations, educational institutions, hospitals, shelters, political parties' headquarters, syndicates and youth centers, from the real state tax.

The law also exempts residential units whose net annual rental value is less than LE24,000, and the units used in trade, industrial and administrative purposes, whose rental value is less than LE1,200 a year.

The non-profit celebration houses, the hotels of the Armed Forces and military medical centers, hospitals and clinics are also exempted from the tax.

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