{"id":568334,"date":"2020-12-27T04:03:05","date_gmt":"2020-12-27T04:03:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/"},"modified":"2020-12-27T04:03:05","modified_gmt":"2020-12-27T04:03:05","slug":"no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/","title":{"rendered":"No real estate tax exemption for industry, but maybe a rate cut"},"content":{"rendered":"

<\/a> Factories will not be getting the real estate tax exemption they have been vying <\/strong>for, but could instead see a significant reduction in their property tax dues under a new draft bill the finance and trade and industry ministries have drafted, the local press<\/a> reports, citing unnamed government sources. The bill, which would see factories pay real estate taxes equivalent to \u201cservice fees,\u201d will be on the incoming House of Representatives\u2019 agenda in its first session next year, the sources say.<\/p>\n

Industry has been calling for real estate tax relief since the beginning of the year<\/strong> when the Investors Union urged the government<\/a> to abolish the tax for factories. This came a week after cabinet green-lit amendments \u2014 later signed into law in May<\/a> \u2014 that exempt unused land from being taxed and give the cabinet the power to issue exemptions for some buildings.<\/p>\n

F<\/strong>inance Minister Mohamed Maait had said last month that <\/strong>a complete exemption was unlikely<\/a><\/strong> seeing as real estate tax is already falling short of generating sufficient state revenue, despite a statement by the Trade Ministry<\/a> in September saying it was working on proposals that would exempt factories from real estate tax.<\/p>\n","protected":false},"excerpt":{"rendered":"

Factories will not be getting the real estate tax exemption they have been vying for, but could instead see a significant reduction in their property tax dues under a new draft bill the finance and trade and industry ministries have drafted, the local press reports, citing unnamed government sources. The bill, which would see factories […]<\/p>\n","protected":false},"author":1,"featured_media":568335,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[72,274,7196,180,187,131,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-enterpriseam","tag-house-of-representatives","tag-industry","tag-legislation","tag-legislation-watch","tag-manufacturing","tag-tax","wpautop","entry"],"acf":{"mongo_id":"921b11ae-ef47-4406-8e5f-39162c7f8e6c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/437.jpg","photo_position":"above","related_issue":[568323],"teaser":"","voice_url":""},"yoast_head":"\nNo real estate tax exemption for industry, but maybe a rate cut - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No real estate tax exemption for industry, but maybe a rate cut\" \/>\n<meta property=\"og:description\" content=\"Factories will not be getting the real estate tax exemption they have been vying for, but could instead see a significant reduction in their property tax dues under a new draft bill the finance and trade and industry ministries have drafted, the local press reports, citing unnamed government sources. The bill, which would see factories […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-27T04:03:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/437.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"No real estate tax exemption for industry, but maybe a rate cut\",\"datePublished\":\"2020-12-27T04:03:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/\"},\"wordCount\":206,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/437.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"House of Representatives\",\"industry\",\"legislation\",\"Legislation Watch\",\"Manufacturing\",\"tax\"],\"articleSection\":[\"LEGISLATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/\",\"name\":\"No real estate tax exemption for industry, but maybe a rate cut - 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Readers may recall the loud, sweeping debate late last summer over how to fairly tax both commercial and personal real estate. At one point, the story was a fixture of the night time talk\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574913,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/27\/is-the-government-exempting-factories-from-property-tax\/","url_meta":{"origin":568334,"position":1},"title":"Is the government exempting factories from property tax?","author":"enterpriseam admin","date":"27 September 2020","format":false,"excerpt":"Are factories getting the real estate tax break they\u2019ve been hoping for? Industry could be getting a leg up from the government if the Madbouly Cabinet agrees to accept a proposal being drafted by the Trade Ministry and exempt factories from the real estate tax. The statement does not provide\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624963,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/24\/amendments-to-real-estate-tax-to-exclude-hotels-and-factories\/","url_meta":{"origin":568334,"position":2},"title":"Amendments to real estate tax to exclude hotels and factories?","author":"enterpriseam admin","date":"24 September 2018","format":false,"excerpt":"LEGISLATION WATCH- Hotels and factories to be exempt from changes to real estate tax system? On the subject of the real estate tax: Forthcoming amendments to the real estate tax will only apply to residential properties, sources familiar with the matter tell Al Mal. The tax treatment of industrial and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569018,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egypt-may-exempt-state-affiliated-strategic-factories-from-property-tax\/","url_meta":{"origin":568334,"position":3},"title":"Egypt may exempt state-affiliated, strategic factories from property tax","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t mulling whether to give property tax exemptions to state-affiliated factories and private-sector companies in a handful of \u201cstrategic\u201d industries: After draft cabinet-approved amendments to the Real Estate Tax Act pass the House of Representatives, the government could move to exempt factories in which it holds shares from paying\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605231,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/26\/finmin-looking-to-replace-real-estate-tax-act-with-new-legislation-streamlining-appraisal-process\/","url_meta":{"origin":568334,"position":4},"title":"FinMin looking to replace Real Estate Tax Act with new legislation streamlining appraisal process","author":"enterpriseam admin","date":"26 December 2018","format":false,"excerpt":"EXCLUSIVE- Proposed amendments to real estate tax could be a \u2018temporary measure\u2019 ahead of full re-write of bill: A bill now before the House of Representatives packed with piecemeal amendments to the nation\u2019s real estate tax could ultimately be just a stop-gap measure as the Finance Ministry mulls drafting a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600799,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/11\/finmin-denies-plans-to-repeal-real-estate-tax-exemption-for-private-homes-in-egypt\/","url_meta":{"origin":568334,"position":5},"title":"FinMin denies plans to repeal real estate tax exemption for private homes in Egypt","author":"enterpriseam admin","date":"11 February 2019","format":false,"excerpt":"FinMin denies it has plans to repeal real estate tax exemption for private homes: The Finance Ministry issued a statement yesterday denying our report that it is mulling scrapping an exemption on real estate taxes for private homes worth less than EGP 2 mn under a new Real Estate Tax\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=568334"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568334\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/568335"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568334"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568334"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}