Minister of Finance: Extension of the deadline for submitting property tax declarations until the end of September

Ahmed Kojok, the Minister of Finance, confirmed that the deadline for submitting property tax declarations has been extended until the end of next September, to give citizens a new opportunity to take advantage of benefits and facilitations through the mobile application, which is being developed in light of users’ proposals. He added that the facilitations include a 25% discount on the tax due for residential units and a 10% discount for non-residential units, as well as an additional 5% discount when paying into the tax account in amounts ranging from 200 to 1,000 Egyptian pounds, depending on the type of unit. Kojok stated that late payment penalties would be waived when settling the principal tax debt until October 2 next year, noting that private family residences valued at less than 8 million Egyptian pounds are exempt from the tax, with exemption requests submitted electronically alongside the declaration. He clarified that, for the first time, a single tax declaration will be accepted for individuals owning multiple units, and electronic receipts will be recognized, emphasizing that the aim is to simplify procedures, reduce burdens and obligations, and facilitate compliance for citizens. Kojok pointed out that they believe the success of any tax reform is measured by the trust it builds and the facilitations and opportunities it provides for voluntary compliance, and that they are making every effort to achieve this.