The FRA confirmed yesterday, January 2nd, 2021, as the start date for Egyptian residents not being subjected to the stamp tax when buying or selling EGX-listed securities.
More Details🧐 The decision comes into effect following a period of uncertainty surrounding the taxes imposed on EGX capital gains, leading to the government announcing an incentives package to support the EGX, which included the abolition of the stamp tax for resident investors.
Why is this Important🤔 Of course this also means the start of the capital gains tax, where resident investors will face a 10% capital gains tax on EGX transactions.
