Egypt: Worked Example of Tax on Rent
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Last Updated: Jun 12, 2007
Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | US$12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Standard Costs2 | (9,000) | (36,000) | (72,000) | |
| = Taxable Income | 9,000 | 36,000 | 72,000 | |
| Income Tax Rates | ||||
| Tax rate | 20% | 1,800 | 7,200 | 14,400 |
| Annual Income Tax Due | US$1,800 | US$7,200 | US$14,400 | |
| Tax Due as % of Gross Income | 10% | 10% | 10% | |
Thanks to: |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on June 12, 2007.
Notes
1 The property is jointly owned by husband and wife, but then taxed separately (50% upon each partner)..
2 The maximum deduction allowed to cover operating expenses is 50% of the gross rent.
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