{"id":688341,"date":"2026-03-15T00:00:00","date_gmt":"2026-03-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=688341"},"modified":"2026-03-15T12:43:12","modified_gmt":"2026-03-15T12:43:12","slug":"finmin-to-waive-backdated-property-taxes-on-unregistered-units","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/15\/finmin-to-waive-backdated-property-taxes-on-unregistered-units\/","title":{"rendered":"FinMin to waive backdated property taxes on unregistered units"},"content":{"rendered":"

Good afternoon, friends, and welcome to the start of a fresh, new workweek \u2014 and Ramadan\u2019s last.<\/strong> In today\u2019s issue, we take a look at how the Strait of Hormuz closure is impacting Egyptian industry, list our favorite Cairene bakeries and patisseries for all your kahk needs, recommend your next Ramadan watch, and more. <\/p>\n

\ud83c\udf19 So, when do we eat?<\/strong> Maghrib prayers are at 6:03pm in the capital, and you\u2019ll have until 4:37am tomorrow to hydrate and caffeinate ahead of fajr<\/p>\n

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THE BIG STORY TODAY-<\/p>\n

\ud83d\udccd The Finance Ministry is set to waive all back taxes on <\/strong>unregistered properties or those missing from tax records<\/strong> in a major \u201cgoodwill\u201d bid to expand the tax base through voluntary compliance, a government source tells EnterpriseAM. Part of a broader facilitation package approved by the House of Representatives, the roadmap ensures that no retroactive taxes will be collected \u2014 regardless of when a property was built \u2014 provided owners register of their own accord.<\/p>\n

Primary residences will receive retroactive relief for past dues for two periods <\/strong>\u2014 from 2018 through the end of 2021, and from January 2022 through 2026, after which applicable units will be taxed. To further incentivize compliance, the ministry is offering a 25% discount on residential units and a 10% discount on commercial properties to voluntary registrants, as well as a 5% discount for advance payments made before final valuations.<\/p>\n

In a move to reset the relationship with taxpayers<\/strong>, the ministry is also capping late payment penalties at the original tax liability, waiving fees for those who settle within six months, and withdrawing all unresolved government appeals.<\/p>\n

^^ We\u2019ll have more on this story in tomorrow\u2019s edition of EnterpriseAM.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 The regional war continues to dominate headlines as the blocking of <\/strong>the Strait of Hormuz remains a pressing global issue.<\/strong> Despite the emergency oil release by the IEA last week, supply is still disrupted, and crude prices are poised for gains this week, having jumped more than 17% since the emergency release. Both Brent and WTI have witnessed 40% spikes just this month and are expected to extend gains at Monday\u2019s open. The market faces further disruption as US President Donald Trump threatens more strikes on Iran\u2019s Kharg Island oil export hub.<\/p>\n

^^ Read more on: Bloomberg<\/a>, CNBC<\/a>, and Reuters<\/a>.<\/p>\n

In the business press<\/strong>, Meta is making headlines as it plans another sweeping layoff that could affect more than 20% of its workforce. These cuts come as Meta seeks to offset its AI spending and prepares for more AI-assisted efficiency. The company is on track to spend USD 600 bn on data centers by 2028.<\/p>\n

^^ Read more on Reuters<\/a>. <\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n