Egypt: Proposed Dividends Tax Scrapped
Type
E-journal
Date
9 Apr 2013
Jurisdiction
Egypt
Taxonomy
Companies & Corporate Bodies, Mergers & Acquisitions, Capital Gains Tax, Corporation Tax, Financial Institutions
Copyright
LexisNexis
Associated digest links
Egypt: Stock Market Transaction Tax Introduced, LNB News 27/03/2013 28
Analysis
Egypt's Finance Ministry has announced a proposed dividends and share gains tax for takeover bids is to be scrapped.
The plans to introduce a 10% tax on major stock market transactions, including IPOs and takeovers, were part of a raft of tax reforms announced in December 2012.
The proposals had caused stock market volatility as investor confidence was shaken.
First reported on Middle East Finance and Economy News Wire on 9 April 2013.