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New Decree-Laws issued and suspended

On 6 December 2012, the president issued the following Decree-Laws which were published in the Official Gazette No. 49.a:

-   Decree-Law 101 for 2012 relating to the amendment of the Income Tax Law (Law 91 for 2005);
-   Decree-Law 102 for 2012 relating to the amendment of the Sales Tax Law (Law 11 for 1991);
-   Decree-Law 103 for 2012 relating to the amendment of the Real Estate Tax Law (Law 196 for 2008); and
-   Decree-Law 104 for 2012 relating to the amendment of the Stamp Duties Law (Law 111 for 1980).

On 10 December 2012, the president issued a statement that suspends the enforcement of the above-mentioned Decree-Laws until appropriate consultations thereon are conducted by the government.
With respect to Decree Law 101 for 2012, the most important changes to the Income Tax Law which would have applied if the suspension statement had not been issued include:

-   one single corporate tax rate was set at 25%. Previously, the 25% corporate tax rate applied to taxable profits exceeding EGP 10 million. Below this threshold a 20% tax rate applied;

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