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Extended deadline for real estate tax returns: FinMin

Original deadline for submitting tax returns for owners of newly-built buildings constructed between July and December was originally at the end of this month

By: Business Today Egypt

Tue, Dec. 29, 2020

Minister of Finance, Mohamed Maait, has announced that the ministry has extended the deadline for submitting real estate tax returns to the end of March 2021.

In a statement, the ministry stated that the extension is part of the pre-emptive measures that the government is taking during the second wave of the COVID-19 pandemic, hoping to reduce crowding in offices and making procedures easier for citizens.

Anwar Fawzy, Chairman of the Real Estate Tax Authority, noted that the declarations also include floors and units added to existing buildings, as well as the change of unit use as this changes the unit’s selling or renting values and other adjustments.

Fawzy called for taxpayers to quickly pay their real estate taxes in order to take advantage of the benefits provided in the late tax payment law.

The original deadline for submitting tax returns for owners of newly-built buildings constructed between July and December was originally at the end of this month.

The ministry clarified in the concluding statement of the general state budget for 2019/2020 that tax revenues increased 0.5 percent to hit LE 739.6 billion, compared to LE 736 billion.