Egypt’s Finance Ministry has approved a number of amendments to the executive regulations of the income-tax law to accommodate for the recently introduced capital-market taxes.
According to the new regulations, dividend distributions to individual investors with an annual turnover not exceeding LE5 million will only be subject to a 5-10 percent tax.
Dividend distributions to those with an annual turnover exceeding LE5 million, however, will be subject to the general income tax.
Meanwhile, taxes imposed on dividends abroad will be subtracted from taxes accrued locally.
Finance Minister Hany Qadry Dimian has estimated recently that the tax would raise would raise LE4 billion per year.
