Foreign embassies to be subject to reciprocal tax treatment on real estate tax

LEGISLATION WATCH- Foreign embassies to be subject to reciprocal tax treatment on real estate tax: When it comes to paying real estate taxes, foreign embassies in Egypt will get reciprocal treatment, meaning they’ll pay (or not pay) the same taxes as Egyptian embassies do in each of those countries, Real Estate Tax Authority head Samia Hussein said yesterday, Al Mal reports. The House of Representatives’ economics and housing committee are expected to meet this month to discuss the government's proposed amendments to the Real Estate Tax Act, which are expected to cover everything from new real estate tax formula to how rented properties would be taxed, how properties would be appraised, and avenues for appeals. Reps. said they expect to complete their review by the end of 2018.