Egyptian real estate taxes 2021:
In this Article we will answer a number of questions that are frequently asked when it comes to real estate taxation in Egypt ?
Are there property taxes in Egypt?
How much is real estate tax in Egypt?
What country has the highest property taxes?
What country has no property taxes?
Is there property tax in Egypt?
Yes, there is property tax in Egypt in accordance with the law of 1998.
Real estate tax is imposed on Egyptian real properties, payable by the owner. Whether the property is actually leased out or not, the tax is levied on the rental value of the property, which is assessed every 5 years for properties by the tax authority
How much is real estate tax in Egypt?
Real estate tax is levied at a flat rate of 10%.
Real estate tax is levied after deducting the following assumed maintenance expenses:
• 30% of the rental value for residential properties
• 32% of the rental value for non-residential properties
Residential properties with an annual rental value of less than 6,000 EGP (US$1,034) is exempt from real estate tax.
Additionally, if a homeowner has only one property in his possession and that property is valued at less than 2 million EGP, then that homeowner will be exempt from the tax.
What country has the highest taxes?
. Belgium appears at the top of the list as a jurisdiction levying the highest property transfer tax rates in the world. The country charges a property transfer tax at the rate of 11,3%, whereas the global average rate of such tax is approximately 3,3%. It means that a person who buys a real estate in Belgium for USD 1 million will need to pay USD 113.131 to the government.
What country has no property tax?
New Zealand appears to be the only country which do not impose any taxes and other obligatory payments on real estate transactions.
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