Cabinet approves amendments to stamp tax law, income tax law

CAIRO - 7 May 2020: The Cabinet, under Prime Minister Mostafa Madbouli, on Thursday approved a draft law to amend some provisions of the stamp tax law and the income tax law.

The bill provides for a delay in paying tax on capital gains received by natural and legal persons. This postponement will not be applied to capital dividends received by natural and legal persons from selling government bonds.

The draft law states that the non-resident seller and the resident buyer shall pay a stamp tax at 1.25 per thousand from the total sale value.

It stipulates that the resident seller and the resident buyer shall pay a stamp tax at 1.25 per thousand from the total sale value.

The bill gives tax preference to securities listed in the Egyptian Stock Exchange unlike the unlisted securities.