Egypt’s Finance Minister Hany Qadry Dimian said that the ministry is considering amending the capital gain tax regulations for foreign investors, in order to equalize their conditions with those of the domestic investors. He gave no further details about the nature of the amendment.
The recent income tax law amendments oblige brokerage companies to retain 6 percent of the capital gains from all the sales transactions, which are then transferred to the tax authority within 3 months.
Last July, President Abdel Fattah al-Sisi approved the law, which imposes a 10 percent tax on capital gains and stock dividends.
