Egypt shoulders EGP 1.4bn annual real estate tax for 21 industries until 2026

Daily News Egypt
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Egypt’s Minister of Finance Mohamed Maait said that the state’s treasury bears EGP 1.4bn annually of taxes imposed on constructed properties used for some industrial and productive activities, representing 21 economic sectors until the end of 2026. 

He explained that this is done to implement the presidential directives to support the industrial sectors and production farms with livestock and poultry, as well as the Cabinet’s decision in this regard.

Maait stressed the state’s commitment to supporting investors and producers. He added that the state’s general treasury will bear the real estate tax on the industrial, poultry and animal production sectors, and then reduce the burdens on citizens as much as possible.

For his part, Anwar Fawzi, head of the Real Estate Tax Authority, said that the economic activities for which the state treasury bears estate taxes until the end of 2026 include the textile, engineering, mining and metal industries, as well as leather, wood and furniture, and the automobile industry. Other activities also include paper and its products, printing and publishing, building materials, ceramics, china, refractories, electronic, electrical, manufacturing, cement, iron, ceramic, pharmaceutical, medical, chemical, food, plant-animal production, and poultry production industries.

Fawzi explained that in order to benefit from these activities, it is required that they be within the state’s formal economy and that the property be actually exploited with the purpose of practising this activity.

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