Egypt’s finance minister has announced the introduction of a 10% capital gains tax on profits made on the stock market. The council of ministers also agreed to impose a 10% tax on net capital gains that individuals make at the end of the tax year.
Also a tax of 10% was imposed on cash dividends and bonus shares. The tax is part of the first phase of income tax reforms in the country expected to bring in 10 billion Egyptian pounds ($1.4bn). This tax will implement once a law is issued.
Related Posts
The Egyptian Parliament introduced Law No. 160 of 2024 on 3 December 2024, ensuring the continued operation of the Dispute Resolution Committee (DRC), which will process ongoing cases and accept new dispute applications until 30 June 2025. The
Read More
Egypt’s tax authorities issued Instruction No. 78 of 2024, which amends the criteria for applying the 0% value-added tax (VAT) on exported services under Circulars (5) and (6) of 2019. Instruction No. 78 repeals Circulars 5 and 6 of 2019, where
Read More
Egypt’s Minister of Finance, Ahmed Kouchouk, during a press conference, unveiled a new package of tax incentives in an attempt to simplify tax procedures and enhance economic productivity on Wednesday, 11 September 2024. The incentives include
Read More The Egyptian House of Representatives approved the ratification of the income tax treaty with Oman on 7 October 2024. Both countries apply the credit method for the elimination of double taxation. The agreement specifies that dividends,
Read More
The European Commission (EC) issued the Notice of the impending expiry of certain anti-subsidy measures in the Official Journal of the European Union (OJEU) on 17 September 2024 concerning the woven and stitched glass fibre fabrics imports from
Read More The Egyptian Ministry of Finance announced a series of initiatives aimed at improving the tax environment for businesses; introducing a simplified tax regime for businesses with a turnover of up to EGP 15 million, covering small businesses, sole
Read More
