# Property tax law changes



## aykalam (Apr 12, 2010)

Egypt’s amended property tax law will go into effect in July, according to Finance Minister Hany Qadry.
“The law has already been approved by the cabinet and awaits ratification by the president,” the finance ministry's spokesman Mesbah Qotb told Ahram Online.

Under the new law, families owning private properties worth up to LE2 million ($290,000) will be exempted from taxes.

The law's previous draft stipulated that properties with a value above LE500,000 would be taxed. The new amendments state that commercial stores with a annual rent value over LE1,200 will be also be subjected to property taxes, said Qotb.

Egypt's amended property tax law to take effect in July: Finance ministry - Economy - Business - Ahram Online


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## Eco-Mariner (Jan 26, 2011)

Many investors were duped into registering their properties and conned into paying to dubious collectors when previous officials demanded tax on properties over 500,000 le. 

I constantly warned everyone here and on other forums not to fall for the demands as the previous law was never implemented. We now see the result of our campaign for a sensible decision.

Eco-Mariner.


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