Egypt reduces stamp tax on non-residents to 1.25 per thousand

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Wed, 18 Mar 2020 - 02:40 GMT

FILE - Employees in the EGX following performance of the trading session on December 12, 2017

FILE - Employees in the EGX following performance of the trading session on December 12, 2017

CAIRO – 18 March 2020: The government made an important package of decisions to support the industry sector and deal with the economic consequences of the emerging corona virus.

Regarding the stock exchange, the government decided to reduce the stamp tax on non-residents to 1.25 per thousand instead of 1.5 per thousand, and reduce the stamp tax on residents to 0.5 per thousand instead of 1.5 per thousand, until the capital gains tax is applied to them at the beginning of 2022.

It was also decided to reduce the price of the dividend tax to companies listed on the Stock Exchange by 50 percent to 5 percent.

The government decided to completely exempt the immediate operations on the shares from the stamp tax to activate the volume of transactions and increase the depth of the Egyptian market, as well.

In addition, it was decided to exempt the non-residents from the capital gains tax once and delay this tax on the residents until 1/1/2022.

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