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
On 15 February 2024, Egypt published the Ministerial Decree No. 52 of 2024 in the Official Gazette, providing updated transfer pricing documentation requirements for Egyptian taxpayers. This decree came into effect on 22 February 2024. In this
Read More
Egypt’s Minister of Finance for Tax Policy and Reforms has announced plans to draft a new iteration of the Income Tax Law. The details of the new law has been fully published, but the main proposals of the new law include: A focus on
Read More On 27 December, the Egyptian Tax Authority announced in a release that all taxpayers who are required to register for VAT must also ensure that all of their branches are registered for VAT. Additionally, VAT registration certificates must be
Read More On 19 September 2023, the Egyptian Tax Authority issued Explanatory Instruction No. 78 introducing mandatory transfer pricing reporting obligations for related party transactions. Accordingly, the Tax Authority has set deadlines for submitting
Read More
On 25 July 2023, Egypt published Law No 160 of 2023 in the official gazette amending the Investment Law No. 72 of 2017. These amendments primarily focused on enhancing incentives for foreign investors, encouraging investment distribution across the
Read More
On 15 June 2023, the Egyptian Tax Authority published Law No. 30 of 2023 in the Official Gazette amending some provisions of the Income Tax Law No. 91 of 2005. The Law entered into force on 16 June 2023. The key amendments to the Income Tax Law are
Read More
