{"id":625896,"date":"2018-08-26T04:12:03","date_gmt":"2018-08-26T04:12:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/parliaments-housing-committee-drafts-new-pseudonymous-real-estate-tax-law\/"},"modified":"2018-08-26T04:12:03","modified_gmt":"2018-08-26T04:12:03","slug":"parliaments-housing-committee-drafts-new-pseudonymous-real-estate-tax-law","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/parliaments-housing-committee-drafts-new-pseudonymous-real-estate-tax-law\/","title":{"rendered":"Parliament\u2019s Housing Committee drafts new, pseudonymous real estate tax law"},"content":{"rendered":"

LEGISLATION WATCH- Parliament\u2019s Housing Committee drafts a new real estate tax law:<\/strong> The House of Representatives\u2019 Housing Committee has drafted new legislation on taxing real estate to replace the existing law under an alias: The Returns Act. The legislation would impose taxes on real estate based on size and location and would be applicable to commercial and residential properties alike, Al Masry Al Youm reports<\/a>. The annual tax would be added to electricity bills once a year, and is expected to reel in around EGP 17 bn per annum, committee head Moataz Mohamed tells the newspaper. The committee has submitted the draft law to Finance Minister Mohamed Maait for review ahead of discussion at the House of Representatives when MPs return in October for the new legislative season.<\/p>\n

Background:<\/strong> The Finance Ministry\u2019s intention to reform the real estate tax has drawn the ire of the business community and private citizens alike, in no small part due to the lack of clarity on the specifics of these amendments<\/a>. Sources had also told us<\/a> that the Madbouly Cabinet is devising a new real estate tax formula as part of a major real estate tax overhaul that would impact both business and private landholdings, while the Finance Ministry is reportedly looking to impose real estate taxes on the oil and gas industry<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Parliament\u2019s Housing Committee drafts a new real estate tax law: The House of Representatives\u2019 Housing Committee has drafted new legislation on taxing real estate to replace the existing law under an alias: The Returns Act. The legislation would impose taxes on real estate based on size and location and would be applicable 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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625896","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"554537db-f040-467d-9f2d-47278eea0bc0","order":"0","is_powered_by":true,"section_story_id":"c61c9c37-409f-4d85-a23e-1c51551a0d75","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625883],"teaser":"","voice_url":""},"yoast_head":"\nParliament\u2019s Housing Committee drafts new, pseudonymous real estate tax law - 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\/2018\/08\/26\/parliaments-housing-committee-drafts-new-pseudonymous-real-estate-tax-law\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parliament\u2019s Housing Committee drafts new, pseudonymous real estate tax law\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Parliament\u2019s Housing Committee drafts a new real estate tax law: The House of Representatives\u2019 Housing Committee has drafted new legislation on taxing real estate to replace the existing law under an alias: The Returns Act. 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Mervat Alexan to include real estate taxes on the planned single tax filing platform that\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":600145,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/","url_meta":{"origin":625896,"position":2},"title":"House committee to approve draft law to regulate real estate development","author":"enterpriseam admin","date":"21 January 2019","format":false,"excerpt":"LEGISLATION WATCH- Housing Committee planning sweeping regulatory changes for real estate industry: The House of Representatives\u2019 Housing Committeewill approve in one month\u2019s time a law to establish a federation for real estate developers and set up a fund to hedge against sector-related risks, committee Secretary Mohamed Ismail told Al Shorouk.\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":570916,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/house-approves-egp-10-bn-additional-provision-for-fy2019-2020-budget\/","url_meta":{"origin":625896,"position":3},"title":"House approves EGP 10 bn additional provision for FY2019-2020 budget","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves EGP 10 bn additional provision for FY2019-2020 budget: The House of Representatives\u2019 general assembly has approved the government\u2019s request to allocate an additional EGP 10 bn in the FY2019-2020 budget to help the state fight the covid-19 pandemic, according to Al Mal. 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