[ad_1]
President Abdel Fattah Al-Sisi ratified Law No. 23 of 2020 that modifies some provisions of the Law on Construction Property Tax issued by Law No. 196 of 2008.
The first article of the law was as follows: “The text of Clause B of Article 9 of the Built Real Estate Tax Law issued by Law No. 196 of 2008 is replaced by the following text:
Article “9 Article / B”: The land that is actually used, whether attached to or independent of buildings, is walled or not, in accordance with the provisions of the executive regulations of this law.
The second article arrived: a new article number 18 bis is added to the tax on built real estate referring to the following text: By a decision of the Council of Ministers based on the proposal of the Minister of Finance in coordination with the competent minister, exempt real estate used in the productive and service activities that the Council of Ministers determines of the built property tax, provided that the decision includes the exemption percentage and its duration for each production or service activity.
President Abdel-Fattah El-Sisi issued Act No. 24 of 2020 regarding some financial rules required to deal with the consequences of the emerging Corona virus.
The House of Representatives approved the law, since the first article of the law stipulates that the Cabinet may, according to the proposal of the Minister of Finance, according to the information provided by the ministries concerned, postpone the payment of all or part of the tax. on real estate built for a period not to exceed three renewable months For another period similar to all or some of the licensed properties actually used in the economic, production or service sectors affected by the repercussions of the “Covid- pandemic 19 “of the Coronavirus, as determined by the Council of Ministers.
And the second article of the law was approved by the Council of Ministers on the basis of the proposal of the Minister of Finance in accordance with the data provided by the relevant ministries to extend the deadlines for filing the tax returns that must be filed during the period. of the Corona Virus pandemic or extend the terms for the payment of all or part of the tax due in accordance with the provisions of the Income Tax Law or the Value Added Tax law or both for a period not to exceed three months, renewable for a similar period, for those who are financial or are registered in the economic, production or service sectors affected by the consequences of the Corona virus and which are determined by the Cabinet, and do not result in periods of D front right delay or additional tax depending on the circumstances, and not entering the tidal periods referenced in the c calculation of the limitation period of tax liability.
(Article Three) stipulated that the Cabinet may, according to the proposal of the Minister of Finance, according to the data provided by the relevant ministries, in fees for fees or service fees due for providing administrative services for a period not more than three months without renewable interest for another similar period, for the economic or productive sectors OR the service affected by the repercussions of the pandemic Corona virus determined by the Cabinet.
And approved (Article Four) of the Council of Ministers based on the proposal of the minister interested in social security according to the data provided by the relevant ministries to postpone the payment or delivery of all or some of the social security contributions due, including worker participation and establishment participation without calculating additional amounts for a period not to exceed three renewable months For another period similar to the economic, production or service sectors affected by the repercussions of the Corona Virus pandemic, according to determined by the Cabinet.
President Abdel Fattah Al-Sisi issued Law No. 26 of 2020 that modifies some provisions of the Income Tax Law promulgated by Law No. 91 of 2005.
The House of Representatives had passed the law, as the law required amending Clause A of Article 13 so that those who receive a salary of £ 24,000 a year are exempt from tax by increasing the personal exemption limit to £ 9,000 instead of £ 7,000 pounds.
The law abolished the tax deduction system and replaced it with fairer segments and achieving progressive taxation according to the level of income and targeting subsidies to those who deserve it, supporting low-income segments and reducing the tax burden on them, by increasing the exemption limit from £ 8,000 to £ 15,000, in addition to the £ 7,000 personal exemption for workers with others, for a total exemption of £ 22,000 per year.
The law included the creation of a social segment to support low-income classes at a rate of 2.5% serving those earning incomes of up to £ 37,000 a year, in addition to abolishing the current tax deduction system to eliminate distortions in the progressive tax, as well as dividing income levels to ensure more fiscal justice, as well as on not wasting tax revenues, redirecting support only to those who are entitled to them, and introducing a new tax rate to those who earn more than £ 400,000 a year at 25%.
President Abdel Fattah Al-Sisi ratified Law No. 25 of 2020 to increase the variable pension for special subsidies that were established as of 1/7/2006, and did not include the basic salary on the date of entitlement to the pension and the amendment of some provisions of the Social Security and Pensions Law promulgated by Law No. 148 of 2019.
The first article arrived: in addition to the variable salary pension calculated in accordance with the Social Security Law issued by Law No. 79 of 1975, due on 7/1/2006 to the insured, whose special benefits are prescribed by Law No. 85 for 2006, 77 for 2007, 114 for 2008,128 for 2009, 70 for 2010, 2 for 2011, 82 for 2012, 78 for 2013, 42 for 2014, 99 for 2015, an increase from 80 % of the value of the special subsidies that did not reach the enrollment rates associated with the basic salary according to the law of your report or not. A date is set for their incorporation, up to the date of entitlement to the pension.
[ad_2]
