CAIRO: The decision of property tax on Egyptians, drafted by the imprisoned Minister of Finance, Youssef Boutros-Ghali, will come into force by next January, according to the Egyptian Supreme Council of the Armed Forces (SCAF). The new law of property tax will not be amended, sources told Youm7. The dissolved Peoples' Assembly agreed on the law during the former regime when Boutros-Ghali was Egypt's Prime Minister. The former Minister of Finance Samir Radwan started to amend certain provisions in the new law when he was assuming office, but Prime Minister Essam Sharaf froze the law. Radwan would amend provision concerns limitation of tax exemption on properties. The amendments aim to raise the exemption limitation from 500,000 EGP (U.S. $84,000) to one million EGP (U.S. $168,000) since the low-income people has no property that could reach a million EGP (U.S. $168,000). A source from the Egyptian taxation department said the tax toll is very week since taxpayers argued the new law is frozen, although the Ministry of Finance said the old law is still applied. Arabic here
