Real estate tax.. The government denies a rumor and issues an important clarification

12:54 PM

Saturday 15 January 2022

Books – Muhammad Nassar:

The Media Center of the Council of Ministers lied the authenticity of a post circulating on social media alleging that the Council of Ministers issued a decision considering the maximum real estate tax of 4000 pounds on all real estate, regardless of the value of the property.

The center said, in a statement, today, Saturday, that it had contacted the Ministry of Finance, which denied the news, stressing that it was not true that the Council of Ministers issued a decision considering the maximum real estate tax of 4000 pounds on all real estate, regardless of the value of the property.

The ministry stressed that the circulated publication is fake, and not issued by any official body, and that the government submitted a bill to the House of Representatives that stipulates the imposition of a lump-sum tax according to the value of the disposal on contracts made before Law No. 11 of 2013 came into force, on May 19, 2013, to be paid by the seller. The latter only, no matter how many decades of ownership hierarchy.

And if the value of the contract is up to 250 thousand pounds, the value of the tax will be 1500 pounds, and if the value of the contract is more than 250 thousand pounds up to 500 thousand pounds, the value of the tax will be 2000 pounds, while if the value of the contract is more than 500 thousand pounds and even one million pounds, the value of tax is 3. Thousands of pounds, and if the value of the contract is more than one million pounds, the tax will be 4,000 pounds, without delay penalties.

While the real estate disposal tax continues to be applied at a rate of 2.5% without a maximum value of the real estate transactions that took place during the period of law No. 11 of 2013 starting from May 19, 2013 without any change to it, whether this disposal of real estate is shown or land for construction, whether the disposal is in its condition Or after the establishment of the facilities, or it was on the property as a whole or part of it, or a residential unit of it, or otherwise.

Reference-www.masrawy.com

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