Quote:
Originally Posted by lsab
Good afternoon Zeiad,
There seems to be some debate as to whether or not stamp duty of 0.6% is payable on purchasing a property in Egypt.
Could you please clarify.
Kind regards
Linda
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Good afternoon to you too Linda,
It took me time to answer this question, because I had to research before I answer, and I eventually reached the result which I'd say initially, except for my desire to be certain; which is there is no such thing as the 0.6% stamp duty, and in fact there is no stamp duty at all on property purchases.
However, and to be more and more sure, I have had a phone appointment with property tax authorities on Sunday to enquire. But as far as it seems, after I enquired with developers, legall accountants, and other lawyers in other governorates, they have all denied hearing about a stamp duty on property purchases, and I have researched the legal resources and failed to find any law talking about it. However you will be informed after I talk to the tax authorities.
All the best,
Zeiad Yehia
Solicitor