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Thndr Claps » EGY Claps » EGX 🔔 » Government Announces an Incentive Package to Support the EGX📃

Government Announces an Incentive Package to Support the EGX📃

by Shams Abbas
November 10, 2021

Prime Minister Dr. Mostafa Madbouly held back-to-back meetings yesterday, where he stressed the importance of providing a package of incentives to support the stock market & improve the investment & business environments.

The most notable outcomes of the meetings were🧐

  • The implementation of a capital gains tax
  • Deduction of all trade-related & custody expenses
  • Abolition of stamp tax on stock market transactions for resident investors
  • No tax files will be opened for individuals investing in the stock exchange, & the clearinghouse is responsible for calculating & collecting tax after deducting expenses
  • Reducing tax on realized capital gains from IPOs by 50% for the first two years
  • Another highlight is that taxes will be calculated based on the higher of acquisition cost of a stock or the stock’s closing price by the end of the year. This allows investors the chance to pay fewer taxes in case of price appreciation, & maximize their return on investment.
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