What do you know about the real estate transaction tax in Egypt?

## Real estate transaction tax in Egypt: A simplified explanation

*What is the real estate transaction tax?*

It is a tax imposed on every real estate transfer, whether it is land, a building or an apartment, regardless of the type or value of the property. In other words, when you buy or sell a property, you must pay a certain amount to the state as a tax on this process.

*Why is this tax imposed?*

* *State revenues:* This tax contributes to increasing state revenues, which are used in development projects and infrastructure.

* *Real estate registration:* This tax ensures that all real estate transactions are officially registered, which reduces tax evasion and guarantees property rights.

*Who pays the tax?*

* *The seller in general:* The seller is usually responsible for paying the real estate transaction tax, but the seller and buyer can agree to share it.

*What is the tax rate?*

* *Variable rate:* The tax rate varies according to the value and type of the property, but there is a minimum and maximum limit for the rate specified by law.

*When is the tax paid?*

* *Within 30 days:* The tax must be paid within 30 days from the date of signing the sales contract.

*Where is the tax paid?*

* *Tax office:* The tax is paid at the tax office to which the property belongs.

*What is the importance of the real estate transaction tax?*

* *Regulating the real estate market:* This tax helps regulate the real estate market and reduce informal transactions.
* *Providing accurate data:* This tax provides accurate data about the real estate market, which helps in making economic decisions.

* *Protecting property rights:* This tax ensures the protection of property rights and the official registration of real estate.

*Important tips:*

* *Consult a tax expert:* Before conducting any real estate transaction, it is advisable to consult a tax expert to learn the exact details of the tax applicable to the deal.

* *Keep all documents:* All documents related to paying the tax must be kept as proof of payment.

* *Follow legislative developments:* Real estate tax laws may change from time to time, so any new amendments should be followed.

*Note:*

* *Real estate tax legislation is complex and changing:* The details mentioned above may vary depending on recent legislative amendments. Therefore, it is advisable to refer to official sources for accurate and up-to-date information.

*Do you have any other questions about real estate transaction tax in Egypt?*

*Useful Resources:*

* *Egyptian Tax Authority:* You can visit the official website of the Egyptian Tax Authority for more detailed information.

* *Accounting and Tax Consulting Firms:* They can provide the necessary advice on real estate taxes.

I hope this explanation is useful to you