Cabinet agrees to exempt poultry farms from real estate tax
The Cabinet agreed to include the activity of poultry production farms among the activities benefiting from Cabinet Resolution No. 61 of 2022.
Cabinet Resolution No. 61 of 2022 stipulates that the Ministry of Finance shall bear the full value of real-estate tax on buildings used in number of specific activities.This is for a period of 3 years, starting from 1/1/2022, until 21/12/2024,similar to what was done for certain industrial activities mentioned in the resolution.
The Cabinet had decided to exempt 19 industrial sectors from the real-estate tax retroactively,with the Ministry of Finance bearing the full value of the tax on the properties used in the exercise of 19 activities starting from
January 1, 2022 and for a period of three years, according to Article 1.
The activities of which the Ministry bears the value of the real-estate tax include:
1- Textile industry.
2 - Engineering industries.
3 - Mining industries.
4 - Metallurgical industries.
5 - Leather industry.
6. Wood and furniture.
7- Automotive industry.
8 –Paper, paper products,printing and publishing
9. Manufacture of building materials, porcelain, china and refractories.
10 - Electronics and electrical industries.
11 - Manufacturing industries.
12 - Cement industry.
13 - Iron industry.
14. Ceramic industry.
15 - Pharmaceutical industries.
16 - Medical industries.
17 - Chemical industries.
18 - Food industries.
19 - Plant and animal production.
Article 2 of the resolution stipulates that the Ministry of Finance shall bear the full value of the real-estate tax on the activities stated in article 1 of the resolution, provided that the activity shall be registered within the official economy of the State and that the real-property for which the tax is incurred shall be effectively used in the exercise of the activity.
( Al Ahram Gate, 15-2-2023 | 12:58)