MPs are gearing up for a heavy legislative agenda, with the state working to introduce a set of new laws for the newly elected House. Here’s a rundown of what we know so far:

The once-planned adoption of a capital gains tax (assuming lawmakers agree) will be formally scrapped and replaced with a stamp duty under legislative amendments under legislation set to be introduced in February, two senior government sources told EnterpriseAM. The originally planned 10% tax on earnings will be replaced by a fixed 0.125% stamp duty on transactions.

Amendments to the Capital Market Law will also begin the process of transforming the EGX into a joint-stock company. This follows the Tadawul and DFM model, signaling that the exchange itself could be headed for an IPO.

Proposed changes to the Customs Law will also be introduced to let companies pay taxes in installments. The move will give manufacturers and others a certain level of working capital respite from having to pay duties in full at the point of entry.

The legislative agenda includes amendments to the Real Estate Tax Law, including a Senate-approved move to increase the annual tax exemption limit for rental income to EGP 50k or even EGP 100k, up from the EGP 24k rate under the current law. Senate discussions on the topic earlier this month saw senators argue in favor of raising the threshold to account for rising inflation and suggest doubling the originally proposed threshold to EGP 100k.

Legislative amendments to establish a digital platform to resolve disputes between consumers and local or foreign entities are also being cooked up, a government source told EnterpriseAM. The in-the-works proposal being prepared under changes to Consumer Protection Law will include a special section for e-commerce, we were told.

The clampdown on electricity theft is also set to continue tomorrow, with proposals set to be introduced to introduce tougher penalties.

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