Egypt Introduces New Capital Gains Tax
On 29 May 2014, the Egyptian government announced the approval of a 10% capital gains tax on annual net gains and cash dividends from companies listed on the Egyptian stock exchange.
After a strong negative reaction from the market, follow-up changes were announced on 2 June. An exemption for annual amounts up to EGP 15,000 was put in place (initially 10,000), and dividends paid as bonus shar…
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