Investment Minister Ashraf Salman has announced that the ministery is conducting a clearing and settlement with stock market investors with respect to the payment of taxes, since the capital gains tax law was issued and then subsequently shelved.
The clearing includes the taxes paid by the investor and the taxes he would get back after the cancellation of the law, Salman said on the sidelines of his visit to Alexandria.
The settlement will be for postponing reimbursing investors' taxes until the end of the year, Salman mentioned.
He added that the amendments to the tax law will be issued before a presidential decree June 30.
Meanwhile, managing director of Misr for Central Clearing, Depository and Registry, Tarek Abdel Bary said on the phone from Paris that foreign investors in the Egyptian stock market were committed to paying the taxes prescribed by law for nearly a year, unlike Egyptian investors.
Edited translation from Al-Masry Al-Youm
