According to recent reports, Egypt published Law No. 199 in the Official Gazette on 30 September 2020, which amends the Income Tax Law and the Stamp Tax Law in relation to the taxation of distributions and gains on securities, including measures in relation to the Egyptian Stock Exchange (EGX) approved by the Cabinet earlier in the year in response to the COVID-19 pandemic. The main changes made by the law are summarized as follows:
- New dividend withholding tax rules are introduced, includin…