Tax planning in Egypt
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Tax planning in Egypt
The current applicable taxes on real estate is a topic of continuous debate amongst the Egyptian government which are striving to find the optimum balance between favourable conditions for foreign nationals to stimulate investment while retaining a process which is financially viable for the country.
The tax conditions in Egypt are very favourable towards investors, as Egypt works on a totally unique system, quite different to the process in other countries. While there is no capital gains tax, no inheritance tax for UK nationals as long as the property is passed on to a direct relative, there is no stamp duty tax and also no wealth tax. There is an applicable real estate tax which varies according to location and property registration fee, however this tends not to be higher than E£ 2000 (approx £ 175 GBP).
Rental income from real estate is taxed at around 20%, provided that a minimum of E£ 5.000 is reached. A large portion of this amount is exempt from tax to cover maintenance fees.
When the property is sold (a minimum of 5 years after initial registration), there is an applicable sales tax of 2.5% of the sales price.
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