The announcement was made during a conference organised by the British Egyptian Business Association (BEBA) on 25 November.
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New amendments aim to accommodate latest economic and financial developments
The law will affect all new homeowners, who will pay a tax of 10% on the total value of their property.
Galal downplayed the importance of resuming talks with the International Monetary Fund (IMF) over the country’s pending $4.8bn loan, which the previous government under former president Mohamed Morsi had been pursuing since August 2012.