December 18, 2017

News 2006

March
The Minister of Finance decree no. 126 of 2006 with regard to the companies that are performing securitization and financial lease are not subject to the provisions of item [1]of article (52) of the income tax law issued on 12/3/2006.

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April
The Minister of Finance decree no. 193 of 2006 with regard to the amendment of some of articles provisions of the executive regulation of the income tax law issued on 3/4/2006.

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May
The presidential decree no. 154 of 2006 with regard to merge between income & sales tax authorities to be one tax authority named “The Egyptian Tax Authority” issued on 21/5/2005.

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June
Law no. 85 of 2006 with regard to granting a special increase exempted from individuals’ income tax with a percentage 15% of the basic salary of the State employees on 30/6/2006 issued on 5/6/2005.

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July
Consequent to the tax reform as the Egyptian Government announced, The People Assembly has issued the law no. 163 of 2006 amended to Stamp duty tax law no. 111 of 1980. The law has cancelled about 23 taxable items approx. which were subject to the stamp tax before.

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September
The Minister of Finance has issued the executive regulation no. 525 of 2006 of the law no. 163 of 2006 to be enforced as from September 11, 2006. The Minister of Finance has issued the related forms to be enforced as from October 2006.

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November
The Minister of Finance decree no. 126 of 2006 with regard to the amendment of the provision of the article 123 of the executive regulation of the income tax law.

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December:
The MOF has issued also the second generation of the income tax returns which were 9 returns. The MOF has issued two new tax returns one is for the banks & insurance activities and the other is for petroleum activity. The mentioned returns are used for the financial year ended December 31, 2006, except for the legal persons which are owned by the State.

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