Tax Authority President Ashraf el-Arabi said the new real estate tax law is 100 percent in conformity with the constitution. "Those who want to file lawsuits against it before the Constitutional Court will lose," he said. At a symposium held by the Lions Club of Cairo on Monday, El-Arabi also said the controversial law would not adversely affect the ruling National Democratic Party in the next parliamentary elections. "The party is strong and popular enough to win the elections," he said. "The law only applies to five percent of Egypt's real estate owners," he explained. "And 60 percent of them own real estate that is valued at less than LE1 million. This means they will pay as little as LE60 for each LE100,000 of their value. And I don't think those five percent have voting cards to vote against the party in the elections, anyway." "I believe the rich do not want to reveal their real wealth, " he continued. "Proof is they didn't complain when prices of certain commodities went up because this wouldn't expose them in any way." El-Arabi denied news about joining the Income Tax Authority with the Sales Tax Authority in one entity, which would entail laying off personnel. "We are only modernizing the two authorities," he said. CORRECTION: This story was originally accompanied by a photo depicting a project unrelated to the Construction Holding Company. Translated from the Arabic Edition.
