Stock market transactions tax

Egypt's Finance Minister, Momtez Al Said, has announced the government intends to introduce capital gains tax on profits derived from transactions performed on the stock exchange market. The proposal would only apply to corporate capital gains. Accordingly, individual capital gains would be exempt from income tax.

The 10% CGT rate will only apply to initial transactions of any security in the secondary market following an initial public offering.

Individuals' income tax reforms

Al Said also announced two new brackets would be introduced regarding individuals' income tax.

For incomes between one and ten million Egyptian pounds the income tax rate will be 22%.

For individuals earning over ten million Egyptian pounds, the income tax rate will be 25%.