Egypt's Minister of Finance Youssef Boutros-Ghali extended yesterday submitting statements for a controversial property tax until March 31 instead of December 31, the official Middle East News Agency (MENA) reported.
The Minister said the new tax would only hit around 4.5 per cent of Egyptians, who have properties exceeding LE500,000 ($90,900), according to Law 196/2008. زThe new taxation system will include sales, income and property taxes,س Ghali said, adding that 25 per cent of the property tax revenues would be allocated for municipalities. زAll citizens are required to submit their property tax statements by March 31, or they will be fined LE200 to LE2,000,س he added. Leading article Page 4
