{"id":622707,"date":"2018-10-10T05:44:45","date_gmt":"2018-10-10T05:44:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/10\/tax-authority-to-sign-agreements-soon-with-ministries-of-transport-civil-aviation-on-real-estate-tax-calculation\/"},"modified":"2018-10-10T05:44:45","modified_gmt":"2018-10-10T05:44:45","slug":"tax-authority-to-sign-agreements-soon-with-ministries-of-transport-civil-aviation-on-real-estate-tax-calculation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/10\/tax-authority-to-sign-agreements-soon-with-ministries-of-transport-civil-aviation-on-real-estate-tax-calculation\/","title":{"rendered":"Tax Authority to sign agreements soon with ministries of transport, civil aviation on real estate tax calculation"},"content":{"rendered":"<p><strong>Tax Authority to sign agreements soon with ministries of transport, civil aviation on real estate tax calculation: <\/strong>The Tax Authority is close to finalizing agreements with the ministries of transport and civil aviation on the tax treatment of real estate in their respective industries, Real Estate Tax Authority head Samia Hussein told the press yesterday, <a href=\"https:\/\/almalnews.com\/Story\/393266\/15\/%D8%A7%D9%84%D8%B6%D8%B1%D8%A7%D8%A6%D8%A8-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%A8%D8%B1%D9%88%D8%AA%D9%88%D9%83%D9%88%D9%84%D9%8A%D9%86-%D9%85%D8%B9-%D9%85%D9%86%D8%B4%D8%A2%D8%AA-%D9%82%D8%B7%D8%A7%D8%B9%D9%8A-%D8%A7%D9%84%D9%86%D9%82%D9%84-%D9%88%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86\">Al Mal reports<\/a>. Hussein said the agreements would be signed soon, but did not give a specific date or provide additional details. The Finance Ministry had signed protocols with the ministries of oil and tourism last month that set guidelines for the calculation of real estate taxes for properties in <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/06\/oil-finance-ministries-agree-on-tax-treatment-of-oil-gas-and-mining-properties\/\">oil, gas, and mining<\/a>, as well as <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/30\/hotels-to-pay-real-estate-taxes-based-on-investment-value\/\">hotels<\/a>. Speaking of which, <a href=\"https:\/\/almalnews.com\/Story\/393277\/14\/%D8%A7%D9%84%D8%B6%D8%B1%D8%A7%D8%A6%D8%A8-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%B3%D9%86%D8%B9%D9%8A%D8%AF-%D8%AD%D8%B3%D8%A7%D8%A8-%D8%A7%D9%84%D9%81%D9%86%D8%A7%D8%AF%D9%82-%D8%A7%D9%84%D8%B4%D8%A7%D8%BA%D8%B1%D8%A9\">Hussein said that<\/a> the tax formula for hotels \u2014 which under new guidelines will be based on their nominal investment value and star rating \u2014 maybe reconsidered and potentially reduced for hotels with low occupancy rates.<\/p>\n<p><strong>Background: <\/strong>Changes to the tax treatment of properties in a variety of industries comes as part of the broader <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/04\/amendments-to-the-real-estate-tax-act-have-leaked\/\">overhaul of the Real Estate Tax Act<\/a>. The Madbouly government wants to change everything from how rental values are calculated for tax purposes, how property values are appraised, penalties for evasion, and avenues for appeals. We\u2019re also expecting comprehensive <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/02\/the-fourth-legislative-session-of-the-house-of-representatives\/\">changes to the country\u2019s tax code<\/a> to be presented to the House of Representatives during the current legislative term, which are expected to restructure the Tax Authority, include new policies to curb tax evasion, introduce a framework for electronic payments, and include provisions that will impact sales and real estate taxes. Changes to taxation laws mean to boost tax receipts, which the government has angled as a key part of its plan to ease pressure on the budget.<\/p>\n<p><strong>Expect changes to tax rates on real estate<\/strong>, but not to the income tax or value-added tax rates. Finance Minister Mohamed Maait has not signaled he plans to depart from his predecessor\u2019s clear policy on tax rate stability in those two portfolios.<\/p>\n<p>On a related note, <strong>sources <\/strong><a href=\"https:\/\/almalnews.com\/Story\/393213\/14\/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D9%83%D8%B4%D9%81-%D8%AD%D9%82%D9%8A%D9%82%D8%A9-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%A7%D9%86%D8%B4%D8%B7%D8%A9-%D8%A7%D9%84%D8%AA%D8%B1%D9%81%D9%8A%D9%87%D9%8A%D8%A9-\"><strong>claim to Al Mal<\/strong><\/a><strong> that the government has no plans to raise taxes on entertainment venues<\/strong>. The claim came <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/08\/is-the-finmin-trying-to-up-the-tax-on-fun\/\">after we reported on Monday<\/a> that Finance Ministry officials have met with members of the Federation of Egyptian Industries\u2019 (FEI) Cinema Industry Chamber to discuss potential tax hikes on entry fees for cinemas, theaters, nightclubs, and other entertainment venues, as well as set a EGP 20 minimum entry fee. As we noted in our initial report: \u201cThis proposal has been circulating since 2016 and has been kicked down the road multiple times. That having been said, the treasury has made it clear that boosting tax receipts will be a key component of its drive to ease pressure on the budget as fuel prices see higher outlays for the subsidy program.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax Authority to sign agreements soon with ministries of transport, civil aviation on real estate tax calculation: The Tax Authority is close to finalizing agreements with the ministries of transport and civil aviation on the tax treatment of real estate in their respective industries, Real Estate Tax Authority head Samia Hussein told the press yesterday, [&hellip;]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622707","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ea889028-81b3-4ba0-befa-aa138726321d","order":"0","is_powered_by":true,"section_story_id":"4e0c65c0-42af-4a13-98df-473ac602eff0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[622700],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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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 &quot;Speed Round&quot;","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":624752,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/18\/a-new-comprehensive-tax-code-to-come-into-effect-soon-finmin\/","url_meta":{"origin":622707,"position":1},"title":"A new comprehensive tax code to come into effect soon -FinMin","author":"enterpriseam admin","date":"18 September 2018","format":false,"excerpt":"**#1 LEGISLATION WATCH- New, comprehensive tax code to come into effect soon? The Finance Ministry has finished drafting a new comprehensive tax code, Minister Mohamed Maait announced in a statement yesterday (pdf), and it looks to be on the fast track to to the House of Representatives. The bill was\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":624381,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/oil-finance-ministries-agree-on-tax-treatment-of-oil-gas-and-mining-properties\/","url_meta":{"origin":622707,"position":2},"title":"Oil, finance ministries agree on tax treatment of oil, gas, and mining properties","author":"enterpriseam admin","date":"6 September 2018","format":false,"excerpt":"Oil and gas companies to pay real estate tax taxes based on field development costs: The ministries of oil and finance reached an agreement on Tuesday on the guidelines for the tax treatment of properties in oil, gas, and mining, according to a cabinet statement. For the oil and gas\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":602055,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/18\/prototype-of-digital-system-ready-to-appraise-egypts-real-estate-assets-ready\/","url_meta":{"origin":622707,"position":3},"title":"Prototype of digital system ready to appraise Egypt\u2019s real estate assets ready","author":"enterpriseam admin","date":"18 March 2019","format":false,"excerpt":"EXCLUSIVE- Prototype of real estate appraisal system ready, process to wrap up in a year: Ain Shams University has completed a prototype of the digital system it will use to appraise Egyptian real estate, engineering professor and head of the real estate appraisal program Mohamed Salheen tells Enterprise. A model\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/415.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623476,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/31\/foreign-embassies-to-be-subject-to-reciprocal-tax-treatment-on-real-estate-tax\/","url_meta":{"origin":622707,"position":4},"title":"Foreign embassies to be subject to reciprocal tax treatment on real estate tax","author":"enterpriseam admin","date":"31 October 2018","format":false,"excerpt":"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\u2019ll pay (or not pay) the same taxes as Egyptian embassies do in each of those countries, Real\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":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":622707,"position":5},"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 &quot;Speed Round&quot;","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\/622707","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=622707"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622707\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/622700"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=622707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=622707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=622707"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=622707"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=622707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}