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Egypt: Summary of 2020 tax decrees and laws

Egypt: Summary of 2020 tax decrees and laws

A report prepared by the KPMG member firm in Egypt provides information about the following tax developments:

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  • A decree (No. 651 of 2019) from the Ministry of Finance concerns the rules and procedures for the collection (and refund) of tax due by the non-residents on the proceeds of treasury bills and bonds.
  • A decree (no. 31 of 2020) concerns exemptions from the real estate tax.
  • A law (no. 83 of 2020) amends certain provisions of the law imposing the state financial resources development fee.
  • A law (no. 147 of 2020) concerns an extension of a suspension period for a law (no. 113 of 1939) concerning the land tax.
  • A law (no. 152 of 2020) concerns the development of micro, small, and medium-sized enterprises.
  • A law (no. 170 of 2020) concerns a solidarity contribution to be imposed in response to economic repercussions resulting from the spread of epidemics or the occurrence of natural disasters.
  • A law (no. 173 of 2020) concerns waiving the late-payment penalty, additional tax, interest, and non-criminal financial penalties, and renews the enforcement of law no.79 of 2016 on terminating tax disputes.
  • A law (no. 182 of 2020) repeals an income tax exemption for the proceeds of the treasury bills and bonds or the capital profits resulting from transactions of such financial instruments.
  • A law (no. 199 of 2020) amends certain provisions of the stamp duty law and the income tax law.
  • A law (no. 200 of 2020) establishes a support fund for persons with disabilities.
  • A law (no. 206 of 2020) sets forth tax procedures for the year 2020.

Read a November 2020 report [PDF 1 MB] prepared by the KPMG member firm in Egypt

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