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Tax Exemptions of The New Tax Law (91/2005)

The Egyptian Cabinet approved a new unified corporate and income tax law on November 24, 2004. The new tax law (No.91/2005) was passed on June 8, 2005. It basically replaces Law 157 of 1981 and its successive amendments. It also replaces law 187 of 1993.

It is effective starting July 1, 2005 for personal income. The corporate income tax will be effective starting January 1 st, 2006.

General Tax Exemptions

  • Profits of land reclamation or cultivation establishments for a period of 10 years.
  • Profits of establishments of poultry production, bees breeding, cattle breeding, fattening pens, fisheries and trawlers projects for a period of 10 years.
  • Profits of securities investment listed in the Egyptian Stock Exchange.
  • Interests of all kinds of debentures and finance bonds listed in the Egyptian Stock Exchange.
  • Dividends of the shares of the capital of the joint stock, limited liability companies and partnerships limited by shares obtained by individuals.
  • Dividends of the investment securities issued by the investment funds.
  • Returns from deposits, savings accounts…etc. in Egyptian banks.
  • Profits realized from the new projects established by finance from the Social Fund for Development for a period of 5 years.
  • Interest on loans and credit facilities obtained by the government from sources abroad.
  • Interests obtained on securities issued by the Central Bank of Egypt.
  • Revenues from writing and translating religious, scientific, cultural and literary books and articles.
  • Revenues of members of teaching staff in the universities, institutes and others as realized from their books & compilations.
  • Revenues of members of the plastic artists association from production of works of photography, sculpture and craving arts.
  • Revenues of free professionals that are registered as active members of trade unions in their field of specialization for a 3-year period.

Tax Exempted Entities

  • Ministries and government administrations
  • Non-profit educational establishments
  • Non-governmental organizations established according to law 84 of 2002
  • Non-profit entities that are exercising social, scientific, sporting or cultural activities
  • Profits of private insurance funds under law 54 of 1975
  • International organizations
  • Educational establishments under government supervision
 
 
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