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 Post subject: New Egyptian Property Tax Law # 196/2008
PostPosted: Fri Nov 20, 2009 12:48 pm 
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I hope you are all aware that a new Egyptian Tax Law comes into force in January 2010.

I have copied this information about the new Tax Law from another forum. How accurate this information is, remains to be seen. Please don't shoot the messenger, I am only trying to keep you updated with this information. I have had no input into this at all, so please do not ask me any questions, as I'm afraid I will not be able to answer them.

NEW PROPERTY TAX LAW N0: 196/2008
Pursuant to the recent Property Tax law No: 196/2008 all the owners have to submit their declaration including their owned Real Estate properties before December 31st 2009. No tax is applied at this stage You can collect the tax form from the Hurghada Real Estate Office. The forms need to be registered by 31st December 2009.

The office is located in El Dahar, just a few minutes walk from the El Gouna bus stop. It is on El Masaleh Street, on the left just after the junction with Youseff Maschkour Street.

You can obtain copies of the (Arabic only) registration forms from there. They require the completed form (in Arabic) a copy of the owner's passport and a copy of the purchase contract. The use of a lawyer is not necessary. Some may choose to use a lawyer for peace of mind. Others will choose not to for the same reason! The form must be signed, in person, together with your lawyer to inform them of your ownership.

Sometime next year, inspectors from the Cairo Real Estate Tax Office will come to look at every property, estimate its rental value over a 20 year-span and, based on that estimation, will calculate the yearly property tax payable to the Hurghada Real Estate Tax Office.

The value of the rent is estimated by committees called "Estimation Committees" who will be managed by a real estate tax authority employee, and will include an employee from the ministry of finance, and two employees chosen by the governor in each governorate.

The usufructuary in the new law is treated exactly as a landlord. Therefore a usufructuary shall be paying for its property / ies.

The actual criterion for total exception from the new real estate tax is when the rental income is less than EGP 6000 per annum.
In the event an individual owns a building consisting of many flats. The definition of "property" in the new law is each flat, not the whole building.
Off-plan properties are not subject to the new law until they are built.
The property rental value determined by the aforementioned committee can be appealed via a complaint, or through court if need be.
The said value is subject to review every 5 years.
If the owner sells the property, it transfers to the next purchaser burdened with the real estate tax due on it if any, and therefore, from now on, every purchaser who goes for a resale must ask the old owner for a negative real estate tax certificate. Please take note of this point as important.
It is a must to apply for the new law against the authorities within a year since the commencement of applying the new tax law.
The first claim for the due tax will be on the first of Jan next to the year of starting to apply the law. Please note that the tax can be paid on 2 installments.
Penalty on delay: There is a penalty on delay equals to the credit price and the price announced by the central bank, plus 2% based on the delay period.
Penalty on refusal to submit the form or presenting fake information: A fine ranging between EGP 200 and EGP 2000
Penalty on refusal to pay: Fine ranging between EGP 1000 and EGP 5000 plus double the tax due on the property.
Unoccupied properties are still subject to the new law.
The criterion used by the above mentioned committee to estimate the rental value is the following equation:
1- Estimating the market value of the property.
2- Estimating the capital value of the property, as equal to 60% of the market value.
3- Estimating the annual gross rental income, which is calculated as 3% of the capital value.
4- Deducting 30% from the last figure. The 30% shall represent the maintenance fees the owner pays. (32% for the non residential properties).
5- Excluding the exemption limit (EGP 6000), and now the new figure is called the net rental income.
6- Applying the tax on the property, which is equal to 10% of the net rental income."

HOW TO FILL IN ESTATE TAX REPORT
Properties owners all over Egypt are starting withdrawing estate tax forms from offices all over the country and that is to fill in forms and delivering them back to the offices. Dead time to deliver forms 31/12/2009.
Form consists of seven pages.
FIRST PAGE
First part is information about the property which the taxpayers write in details.
Second part of the first page contains some guide information about how to fill in the form besides some norms should be taken in consideration whilst filing the form in and the most important is when the property is inherited as well as that the tenant is not obligated to give the report.
SECOND PAGE
First part declares that the name of the reporter should be from the ID card for Egyptians and passport no. for foreigners.
In case the owner is representative, so it should be written in the form as it is recorded in the commercial registration.
As well as mentioning number of floors of the property and units description and type of each unit including gutter and garage.
THIRD PAGE
Includes information about reporter, name and description of representative either he was owner, benefited, agent legal
representative and ID no. issue date, passport no. for foreigners, nationality and issue no.
FOURTH PAGE
Information about the reporter, and tax file no. and tax registration no,. commercial registration no., commercial
register office, and type of activity either commercial, industrial, educational or health.
Information about correspondences with the owner and includes the owners address, governorate, city, village, district the owner lives in and building no. and street, post code, post box no. and phone, mobile no. and email address.
Information about the property: Ownership information and property location, property address, area, building no. and number of floors, flats in floor, date of finishing, or building age, and type of the building (house - building - villa - boathouse - other).
FIFTH PAGE
Includes information about the property: floor number, flat number, date of purchasing, type of house if for living or not,
name of inhabitant, type of the unit if double villa or detached or flat or room or roof room or gutter or shop besides type of activity and type of rent, and total space if the unit is detached or double or prospective either eastern or western or
garden or space land or industrial or commercial.
Information about electricity counter and unit view and number of rooms and number of bathrooms and level and type of finishing and amount of rent according to the renting contract. Taking in the consideration repeating the fifth page according to the number of units in the property that each unit has separate page.
SIXTH PAGE
Includes the attachments and stable fixings in the property includes type of attachment and space, type of unit either paid
or rent and the amount of rent according to rent contract.
Besides information about signal stations in the property and rent and any advertisement attached and the rent.
And includes confession about the information mentioned in the report at the end of the page.
As well as necessary to repeat the sixth page according to number of attachments.
SEVENTH AND LAST PAGE
Information filled in by the official receipt time pointing at the end of each page incase of escaping from reporting the owner is punished and pay compensation about 200 to 2000 pounds.
Incase of error in information:
It affects 10% of the tax so a compensation of 200 LE to 2000 LE is a must.
And though it will be consideration the reporter is not allowed to specify the annual rent which calculates the estate tax after deducting 6000 LE off then deducting 30% of the amount for maintenance and if the rent that the reporter give in the form is little less than the real there will be no compensation.

It then gives details of the accountants website and email
address.
http://www.mat-egy. com <http://www.mat- egy.com> and
http://www.taxexpertsgroup .com <http://www.taxexper tsgroup.com>

The Hurghada Real Estate Tax Office will not send an invoice: you will have to go to their office, spontaneously, after the “Cairo estimation”, and every year afterwards to pay the yearly tax.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Sat Nov 21, 2009 11:19 am 
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I'm a bit thick and my mind goes totally blank when Tax law is talked about so here's my question.... If you are NOT renting out your property at all, therefore being below the 6000 EGP does that mean we don't have to pay?


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Sat Nov 21, 2009 3:30 pm 
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Hi Chris,
I am not the sharpest tool in the box either but I think what you have said is correct. I think that the owner still has to register though, But since the ownership of the apartments is the thing that is in dispute, who is it that registers. El Riad keep telling us that we dont own our apartments but that does not stop them from trying to extort money from us for electric and water bills for something we dont own. Something will have to be sorted soon. I bought and paid for my studio apartment over two years ago but it is still not mine, I am that angry I could crush a grape.
Alexander.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Nov 23, 2009 8:54 am 
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Hi Guys

Here are some more posts, copied and pasted from another forum. I cannot vouch for their accuracy but it is food for thought and if anyone else has any other information about the new Tax Law, please feel free to share it with us all.

1) Re: the Property Tax it is not finalized by the Parliament and is not expected to be until sometime next year, it is also unclear exactly what and who it applies to, when you receive official notice I suggest you contact Maysa Gamel who is a very professional lawyer in Egypt at the Gamel Law Office in Cairo, she speaks perfect English, her advice is very good, however she costs what real lawyers cost and not your general Egyptian Lawyer fee, but you can depend 100% on her advice.

2) If you pay a maintenance company then they should submit your tax forms, that's if you're liable!!!

Personally, I would have thought that it would have been your Management Company not your Maintenance Company that would submit your Tax Forms.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Tue Nov 24, 2009 7:09 pm 
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Request to a Solicior in Hurghada:

We have been reading that it may be necessary to register our apartments at the Real Estate Tax Office in Hurghada before the end of December 2009. Could you please confirm that his is true?

This is the reply I received.

It is NOT necessary to register your apartment at the Real Estate Tax Office before end of December 2009 IF your property is first registered in the Hurghada Registry of Deeds. Even if for example your property is registered in the Hurghada Registry of Deeds, you can register in the Real Estate Tax Office after December 2009.
Also under the new law on real estate, it is NOT stated that you as a foreigner must register your property in the Hurghada Registry of Deeds, only if you wish to do so.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Nov 26, 2009 3:00 pm 
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Hi everyone!

Whats everyone doing with regards to registering for tax? Its all very confusing as always - and i am never 100% sure who to believe as advice seems to vary widely.

I wasnt especially planning on renting my property out and I would not have thought the yearly income would be 6000 anyway? Is it £6000 pounds or £6000 egyptian money?

Has anyone else registered yet? Im very reluctant to do it given i dont know for 100% that i own my apartment!

Any advice would be appreciated!

Thanks

Tim


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Nov 26, 2009 3:22 pm 
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Hi Tim, I think until we get your apartments secured and in your name you wouldn't be able to register it anyway. I wonder if ER are going to pay tax on 200 apartments as they claim they own them?????

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Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Nov 26, 2009 3:41 pm 
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hmmm i doubt that very much!

Cant believe what a shoddy place egypt is to do business in . . .cant beleive you have managed to hold it together for so long with out going insane!

tim


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Nov 26, 2009 5:07 pm 
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timmy123abc wrote:
hmmm i doubt that very much!

Cant believe what a shoddy place egypt is to do business in . . .cant beleive you have managed to hold it together for so long with out going insane!

tim


I am very close to it :D :D :D :D

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Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Nov 30, 2009 9:00 am 
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FOR ALL THOSE WHO OWN COMPLETED PROPERTY IN EGYPT.

This is the latest from the Solicitor In Hurghada:

FIRSTLY HE APOLOGIES FOR HIS PREVIOUS EMAIL SAYING THAT:
"It is NOT necessary to register your apartment at the Real Estate Tax Office before end of December 2009 IF your property is first registered in the Hurghada Registry of Deeds. Even if for example your property is registered in the Hurghada Registry of Deeds, you can register in the Real Estate Tax Office after December 2009."

HERE IS HIS CORRECTION:

This new real estate tax law calls every owner of property in Egypt to register it in the Real Estate Tax Office before end of this year. We already starting to collect the clients and we will manage to register them as a group with the Real Estate Tax Office.
The Real Estate Tax Office will start to check the property next year and make assessment based on the market value of the property or by their judgement. It means the current price of your property on the contract can be high or low.
The only thing is that you do not have to pay anything to the Tax Office now, only when we know the assessment of the property. There will be some expenses for the registration and this we will let you know after we know the assessment and tax that must be paid.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Nov 30, 2009 9:40 pm 
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Does the above only come into force if you have paid 100%. :)


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Nov 30, 2009 10:01 pm 
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bernieart wrote:
Does the above only come into force if you have paid 100%. :)


only if you own the apartment i would say , as a lot of people have paid 100% and still dont own them , and i would'nt worry to much about this
new tax law , it will take the egyptians 20 year to get it surted. (good luck :-)


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Sat Dec 05, 2009 5:43 pm 
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I have just returned from Hurghada and I have found someone to do the tax forms for you, he says it applies to anyone with either full ownership or just a purchase contract. The form is in Arabic so no chance of filling it in yourselves, he is charging Egyptians and non-Egyptians $50 to fill in and file with the tax office. You need to contact him and email your contract and copy of your passport, I sat in his office and he went through it with me, he has also helped me with some commercial and tax advice regarding our furniture business, he is very good.

His details are:

Ibrahim Hassan (Brokers International Egypt)

Tel: 0111344478
Tel: 0111559966

Email: uuhasan@gmail.com

_________________
Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Sat Dec 05, 2009 10:48 pm 
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Thanks Neil. Yet again you come up with the goods when nobody else has the answers. Looks like more money out with nothing to show for it yet, maybe soon. :lol:


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Sun Dec 06, 2009 8:19 pm 
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RivermeadGlobal wrote:
I have just returned from Hurghada and I have found someone to do the tax forms for you, he says it applies to anyone with either full ownership or just a purchase contract. The form is in Arabic so no chance of filling it in yourselves, he is charging Egyptians and non-Egyptians $50 to fill in and file with the tax office. You need to contact him and email your contract and copy of your passport, I sat in his office and he went through it with me, he has also helped me with is details are:

Ibrahim Hassan (Brokers International Egypt)

Tel: 0111344478
Tel: 0111559966

Email: uuhasan@gmail.com
an asuming


Thanks for that, I am assuming though that this relates to completed projects Neil, am I correct (as we all have contacts)


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Sun Dec 06, 2009 9:41 pm 
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Scubamog wrote:
RivermeadGlobal wrote:
I have just returned from Hurghada and I have found someone to do the tax forms for you, he says it applies to anyone with either full ownership or just a purchase contract. The form is in Arabic so no chance of filling it in yourselves, he is charging Egyptians and non-Egyptians $50 to fill in and file with the tax office. You need to contact him and email your contract and copy of your passport, I sat in his office and he went through it with me, he has also helped me with is details are:

Ibrahim Hassan (Brokers International Egypt)

Tel: 0111344478
Tel: 0111559966

Email: uuhasan@gmail.com
an asuming


Thanks for that, I am assuming though that this relates to completed projects Neil, am I correct (as we all have contacts)


No he said it applies to everyone, send him an email or give him a call, he is a really nice guy with excellent English :D

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Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Dec 07, 2009 8:56 am 
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RivermeadGlobal wrote:
Scubamog wrote:
RivermeadGlobal wrote:
I have just returned from Hurghada and I have found someone to do the tax forms for you, he says it applies to anyone with either full ownership or just a purchase contract. The form is in Arabic so no chance of filling it in yourselves, he is charging Egyptians and non-Egyptians $50 to fill in and file with the tax office. You need to contact him and email your contract and copy of your passport, I sat in his office and he went through it with me, he has also helped me with is details are:

Ibrahim Hassan (Brokers International Egypt)

Tel: 0111344478
Tel: 0111559966

Email: uuhasan@gmail.com
an asuming


Thanks for that, I am assuming though that this relates to completed projects Neil, am I correct (as we all have contacts)




No he said it applies to everyone, send him an email or give him a call, he is a really nice guy with excellent English :D

thanks Neil, will do


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Dec 07, 2009 7:01 pm 
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Hi Neil ,
Thanks

Great work as usual .

Just a small query , as our contracts are not legal do we still have to make this return , especially those of us who have not paid the full amount ?

regards

Rod


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Dec 07, 2009 8:40 pm 
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Hi there

I was wondering the same as Rod - as we may register the apartments then they might start taking money off us based on their tax calculation yet this drags on and we don't get our apartments for another 6 months or so??

What happens if you never rent your apartment out? Surely you don't have to pay tax on that? seems very unfair??

Tim


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Dec 07, 2009 10:54 pm 
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Please email your questions to Mr. Hassan as I have no idea about Egyptian tax law and he will be able to tell you, thanks.

_________________
Best, Regards, Neil Hollingsworth
Tel:0161 6525563/07717826505
Please have a look at our new website http://www.rivermeadglobalproperty.co.uk


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Wed Dec 09, 2009 2:34 pm 
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RivermeadGlobal wrote:
Please email your questions to Mr. Hassan as I have no idea about Egyptian tax law and he will be able to tell you, thanks.


here is the answer I received from Mr Hasan

I receive your mail , my office fill & deliver the tax report to the tax department in hurghada and we scan and send the receipt to your E-mail when finish ,
our charge is 50 $ for each property you can transfer the money to my account in HSBC bank
HSBC - bank
swift code : EBBKEGCX
account no : 017007949 - 017 ( For dollar )
or : 017007949 - 018 ( For euro )
Name : Ibrahim Ahmed

So, please send the transfer no. to my mail ,
we report & finish in 48 working hours ,,,

But for your case
- If the owned not complete i mean you did not receive the apartment or not yet finish you do not have to register now .
- register in tax department not mean you well pay tax only the apartment more than 500000 L.E. well pay tax according to the
new tax law in Egypt
- for the apartment 600000 L.E. it well be around 200 L.E. per year.
So registration is OK for any owner because we well do next year or latter but if not maybe we have penalty from the government
but your passport copy need to rescanned& sent to me again,
hope i answer your questions & happy to serve you any time,,,,,


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Dec 10, 2009 9:07 am 
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Hi

Can anyone confirm then, as I understand this, as we are all still in litigation for full ownership even for those of us who have paid 100% plus, had the keys etc, we do not have to register until all of our cases are resolved?

Thanks

Sue and Richard


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Dec 10, 2009 10:02 am 
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garman1 wrote:
Hi

Can anyone confirm then, as I understand this, as we are all still in litigation for full ownership even for those of us who have paid 100% plus, had the keys etc, we do not have to register until all of our cases are resolved?

Thanks

Sue and Richard


e-mail your question to Mr Hasan (details on Neils post) he answers within a couple of days


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Dec 10, 2009 10:07 am 
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Hi Sue and Richard,

From what I gather we dont not need to register until we are in legal owner ship which as yet we are not! Also it sounds as if you will only pay the tax if your property is worth over 500,000 LE - egyptian pounds - which is about £56,000 - which i know mine certainly is not as i only got a studio.

Anyway hope this helps

Tim


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Dec 10, 2009 11:25 am 
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Hi Tim

thanks for your response, that's what I was hoping, and also like yours, ours is only a studio so worth no where near that amount

Many thanks

Sue and Rich


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Fri Dec 11, 2009 4:01 pm 
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Hi
I have only bought a studio as well but I am going to register it for this new property tax because one thing I have learned from this fiasco is better safe than sorry. It is only about £30 to register and it is always another piece of paper with your name and apartment on it.
Alexander.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Thu Dec 17, 2009 10:01 am 
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Does anyone know if this has to be done by 31st Dec 09 as our flight to hurghada isn't until the 1st Jan 09.
And I'm still not sure if we are the owners of our appartment although we have paid in full.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Tue Dec 22, 2009 8:44 am 
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Found this post on another forum.

The Egyptain Authorities have now changed the Decemebr 2009 deadline
to register your property for the Property Tax to March 31st 2010.


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 Post subject: Re: NEW EGYPTIAN PROPERTY TAX LAW N0: 196/2008
PostPosted: Mon Feb 15, 2010 3:44 pm 
The Egyptian Tax Law is now relaxed until the 31st March 2010. It may change again or even be cancelled. Please do not pay any money to any lawyers or so called "consultants" until this is clarified. Please be aware of local sharks who pretend to be experts on this. I have received information that women in particular are being subjected to "attention and flattery" by local men to get their money and keys to their properties. We must guard against this.


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