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Wednesday, 17 June 2020

Egypt: House committee approves waiving late fees on handful of taxes

LEGISLATION WATCH- House committee approves waiving late fees on handful of taxes: The House Planning Committee has greenlit a draft law that would waive interest and late fee payments on state dues including income, value-added and real estate taxes, according to Al Mal. The bill, which should now make its way for a final vote, would waive 90% of the fees if the taxes are paid within two months after it becomes law, 70% if paid within four months, and 50% within six months. Late taxpayers that clear their dues before the temporary law passes will be exempt from 100% of the fees, cabinet said last month.

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