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Egypt revokes proposed Capital gains tax

Budget seeks to boost confidence in the stock market and ease burden on investors

Reuters, Monday 6 Jun 2011
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The head of Egypt's stock exchange said on Monday that the dividends of listed companies will be exempted from new taxes proposed by the government under the 2011/12 budget.

"We reached an agreement to exempt companies listed on the bourse from a tax on distributed profits. At this time we need confidence in the market and to reduce the burden on investors."

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