Officials have concluded the executive regulations of amendments to the new real estate tax draft law, says Finance Minister Hany Qadry Dimian.
The draft law was referred to State Council to review it before being issued by a ministerial decision.
The regulations set the legal base for executive instructions recently issued to facilitate receiving of appeals, complaints and requests to prove exemption of the private house. They also include the tables of counting the real estate tax on the additional housing units, whose value surpass the exemption rate stated at LE2 million, in addition to other administrative and trade units. Models of tax exemption and the real estate wealth are also included.
The Real Estate Tax Authority, according to the minister, will issue clear instructions on dealing with problems that surfaced while the new law was applied.
The minister said talks are being held over standards to evaluate non-residential real estate units between the ministry and sectors of tourism, petrol, mineral wealth, transportation, civil aviation and investments. It has been agreed on standards to evaluate real estate units used by the industrial sector.
