Egypt revokes proposed Capital gains tax

Reuters, Monday 6 Jun 2011

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

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."

Short link: