Egypt plans new 10 per cent capital gains tax

Reuters, Wednesday 1 Jun 2011

Egypt will levy a new capital gains tax on the rich and financial companies, the government said in a statement, to finance a budget that will hike subsidies to help the poor after months of political turmoil.

The government will tax capital gains at 10 per cent and will raise the income tax on high net worth individuals and finance firms by 5 percentage points, the document showed.

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