Back to the complete issue
Monday, 8 March 2021

Last Night’s Talk Shows on 8 March 2021

The talking heads had real estate taxes at the top of their agendas last night, after the Egyptian Tax Authority issued a reminder yesterday that personal tax filings are due before 31 March.

Taxes themselves aren’t due yet: For now, property owners need to head to their local ma’moreya with a tax filing before the deadline, or else face a late fee, Real Estate Tax Authority spokesperson Nagi Sergani told Al Hayah Al Youm’s Mohamed Sherdy. You don’t have to go to a ma’moreya in the same governorate or neighborhood where your property is located, Sergani noted. Filings must include the property owner’s personal information, as well as the property’s total area or size, its location, and its proximity to services, all of which factor into the asset’s appraisal, according to Sergani. The authority will then inform property owners of how much they owe in early 2022 (watch, runtime: 4:44).

So how much is everyone going to pay when it’s time? Homeowners whose property is valued at less than EGP 2 mn are exempt from paying the real estate tax, Sergani told Kelma Akhira’s Lamees El Hadidi. Homeowners whose property is valued anywhere between EGP 2-2.5 mn will owe EGP 120 in taxes each year, while homes valued at EGP 2.5-3 mn will be taxed at an annual rate of EGP 700. Homes valued at EGP 3 mn or more will be taxed EGP 1,380 annually (watch, runtime: 3:56). Factories aren’t eligible for tax exemptions, but they will be able to pay in instalments to make things easier, Sergani told Lamees.

The Tax Authority needs to run advertisements on television channels — rather than newspapers — to remind taxpayers that payments are due well ahead of the deadline, argued El Hekaya’s Amr Adib. The ads should explain how and where to pay the taxes, as well as provide a breakdown of exactly how much is owed (watch, runtime: 1:24).

Elsewhere: A proposed new amendment to the Water Resources Act would impose a EGP 250k fine for disposing of garbage or any kind of polluting waste in the Nile, water canals, lakes, or other waterways in the country, undersecretary of the House Suggestions and Complaints Committee Hisham Hussein told Ala Mas’ouleety’s Ahmed Moussa (watch, runtime: 12:41). The Act is currently under discussion at the House of Representatives, and is expected to unite disparate laws on water into a single bill, and will introduce stricter penalties for water waste, while addressing pollution, dwindling resources, and climate change issues.

Also on the airwaves last night:

  • Egypt and Sudan found plenty of common ground in their discussions on the Grand Ethiopian Renaissance Dam during President Abdel Fattah El Sisi’s visit to Khartoum over the weekend, Foreign Minister Sameh Shoukry said. (Eman El Hosary on Masaa DMC | watch, runtime: 16:08)
  • EgyptAir has no intention to lay off any of its staff as part of the holding company’s restructuring plans, Chairman Roshdy Zakaria said. (Osama Kamal on 90 Minutes | watch, runtime 11:43)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.