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House of Representatives suspends land tax for another year

House of Representatives suspends land tax for another year

ArabFinance: The Planning and Budget Committee at the Egyptian House of Representatives has approved a draft law extending the suspension of Law No. 113 of 1939 on land tax for an additional year, the Middle East News Agency (MENA) reported on May 24th.

Under the new draft, the suspension law shall be effective for a year starting from the next day to the last day of suspension enacted by Law No. 147 of 2020, which means that the added suspension term will continue until the end of July 2023.

Commenting on the approval of the draft law, Deputy Chairman of the Planning and Budget Committee Yasser Omar said that it is alleviating tax burdens for workers in the agricultural sector and encouraging them to increase their production.

According to the explanatory memo attached to the draft, Law No. 143 of 2017 was passed to suspend provisions of Law No. 113 of 1939 on land tax for three years starting from August 2017.

 

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