Egypt Unveils Major Real Estate Tax Relief Measures

(MENAFN- Daily News Egypt) Egypt's Minister of Finance, Ahmed Kouchouk, has announced a package of unprecedented incentives and facilitative measures aimed at easing the burden of real estate taxes on citizens, as part of broader efforts to support household finances amid ongoing economic pressures.

In a statement issued on Friday, the minister revealed that the tax exemption threshold for primary residential properties has been raised to EGP 8 million, a move expected to significantly reduce the number of taxable homeowners. He also emphasized that late payment penalties will not exceed the original tax amount, providing further relief to taxpayers.

Kouchouk noted that no real estate tax will be imposed on properties that are demolished or rendered unusable due to exceptional circumstances. Additionally, for the first time, taxpayers will be allowed to request full waivers of both tax liabilities and associated penalties in cases deemed necessary.

The reforms also include provisions for refunding any excess payments made beyond legally due amounts, while penalties will be waived for individuals who settle their dues either before or within six months of the new amendments coming into effect.

In a notable step, all unresolved appeals currently under review will be dismissed, while taxpayers will be allowed to settle ongoing disputes by paying 70% of the contested tax amount, enabling faster resolution of cases.

To encourage compliance, the government is introducing tax incentives, including a 25% discount for timely filing on residential units and 10% for non-residential properties. An additional 5% discount will be granted for early payments.

The reforms also allow taxpayers to submit a single unified tax return for multiple properties and facilitate electronic payments and filings, signaling a shift toward a more efficient and taxpayer-friendly system.

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