{"id":575904,"date":"2020-11-03T04:00:19","date_gmt":"2020-11-03T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/"},"modified":"2020-11-03T04:00:19","modified_gmt":"2020-11-03T04:00:19","slug":"are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/","title":{"rendered":"Are Egypt\u2019s factories getting closer to a temporary real estate tax break?"},"content":{"rendered":"

<\/a> Are factories getting closer to a temporary real estate tax break?<\/strong> That\u2019s what Egyptian Federation of Investors Association Secretary Sobhi Nasr claims, telling Amwal Al Ghad that Finance Minister Mohamed Maait agreed to temporarily exempt factories from paying the property tax. The apparent decision, which still requires a formal sign-off from the Madbouly Cabinet to come into effect, follows months of lobbying from businesses. Maait reportedly agreed after a recent meeting of the newly-formed joint committee<\/a> the ministry set up with business groups to address investor concerns.<\/p>\n

Background:<\/strong> Industry has been calling for real estate tax relief since the beginning of the year, when the Investors Union urged the government<\/a> to abolish the tax for factories. The push came on the heels of the cabinet signing off on amendments that exempt unused land from being taxed. These amendments were later signed into law<\/a> in May. The Trade Ministry also said in September<\/a> it was working on proposals that would exempt factories from real estate tax.<\/p>\n","protected":false},"excerpt":{"rendered":"

Are factories getting closer to a temporary real estate tax break? That\u2019s what Egyptian Federation of Investors Association Secretary Sobhi Nasr claims, telling Amwal Al Ghad that Finance Minister Mohamed Maait agreed to temporarily exempt factories from paying the property tax. The apparent decision, which still requires a formal sign-off from the Madbouly Cabinet to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,276,131,277,389,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575904","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-finance-ministry","tag-manufacturing","tag-mohamed-maait","tag-real-estate-tax","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"15bf104c-0386-486d-999c-c567072f8e10","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[575899],"teaser":"","voice_url":""},"yoast_head":"\nAre Egypt\u2019s factories getting closer to a temporary real estate tax break? - 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\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are Egypt\u2019s factories getting closer to a temporary real estate tax break?\" \/>\n<meta property=\"og:description\" content=\"Are factories getting closer to a temporary real estate tax break? That\u2019s what Egyptian Federation of Investors Association Secretary Sobhi Nasr claims, telling Amwal Al Ghad that Finance Minister Mohamed Maait agreed to temporarily exempt factories from paying the property tax. The apparent decision, which still requires a formal sign-off from the Madbouly Cabinet to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-03T04:00:19+00:00\" \/>\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\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Are Egypt\u2019s factories getting closer to a temporary real estate tax break?\",\"datePublished\":\"2020-11-03T04:00:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/\"},\"wordCount\":179,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Finance Ministry\",\"Manufacturing\",\"Mohamed Maait\",\"real estate tax\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/are-egypts-factories-getting-closer-to-a-temporary-real-estate-tax-break\/\",\"name\":\"Are Egypt\u2019s factories getting closer to a temporary real estate tax break? 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Samir Aref, head of the Tenth\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\/1\/718.jpg?fit=%2C&ssl=1&resize=350%2C200","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":575904,"position":1},"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":575717,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/25\/investors-to-work-with-finmin-on-real-estate-tax-exemptions\/","url_meta":{"origin":575904,"position":2},"title":"Investors to work with FinMin on real estate tax exemptions","author":"enterpriseam admin","date":"25 October 2020","format":false,"excerpt":"Business leaders and lobby groups are now part of a joint committee with the Finance Ministry set up to address investor concerns, including the implementation of the Real Estate Tax Act, the ministry said in a statement on Friday. 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The\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/437.jpg?fit=%2C&ssl=1&resize=350%2C200","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":575904,"position":4},"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":567464,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/23\/cabinet-approves-partial-property-tax-exemption-for-factories\/","url_meta":{"origin":575904,"position":5},"title":"Cabinet approves partial property tax exemption for factories","author":"enterpriseam admin","date":"23 January 2020","format":false,"excerpt":"CABINET WATCH- Cabinet approves partial property tax exemption for factories: The Madbouly Cabinet approved draft amendments to the Real Estate Tax Act that exempts idle land from property tax, according to a cabinet statement. 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