Egypt is studying why an attempt to introduce a capital gains tax on shares failed and expects to complete its analysis in the first quarter of 2017, deputy finance minister for taxation policies Amr Al-Monir told Reuters in an interview.
Egypt imposed a new 10 percent tax on capital gains and stock dividends in July 2014, as part of efforts to overhaul an economy battered by political and economic turmoil since a 2011 uprising.
The new taxes sparked a sell-off by disgruntled investors, who complained the tax regulations were too complicated and would make the bourse less competitive.
In May 2015 the government put the capital gains tax on hold for two years while keeping in place the tax on stock dividends.
Comments
Comments are closed.