The Egyptian Minister of Finance, Mohamed Maait, affirmed that no new taxes will be imposed on the Egyptian Exchange’s (EGX) transactions.
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He said that the ministerial decree no. 428 of 2021 is in accordance with the provisions of the applicable laws and only includes rules and instructions related to the taxes on capital gains realised from the sale of shares and treasury bills (T-bills) as well as stamp taxes on the EGX’s transactions, according to a statement on Monday.
The decree provides a guide to tax procedures for securities with the aim of raising tax awareness and enhancing transparency, Maait noted.
The guide includes a timeline of amendments to the income tax law no. 91 of 2005 and the stamp tax law no. 111 of 1980.
