{"id":557117,"date":"2021-09-07T04:00:15","date_gmt":"2021-09-07T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/the-egx-capital-gains-tax-wont-be-making-its-comeback-in-january-2022\/"},"modified":"2021-09-07T04:00:15","modified_gmt":"2021-09-07T04:00:15","slug":"the-egx-capital-gains-tax-wont-be-making-its-comeback-in-january-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/the-egx-capital-gains-tax-wont-be-making-its-comeback-in-january-2022\/","title":{"rendered":"The EGX capital gains tax won\u2019t be making its comeback in January 2022"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Investors are not yet facing new taxes on stock market transactions<\/strong>, <a href=\"https:\/\/www.mof.gov.eg\/ar\/posts\/media\/6135d0d078345e000acd83a4\/%D9%88%D8%B2%D9%8A%D8%B1%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9%3A%20%D9%84%D9%85%20%D9%86%D9%81%D8%B1%D8%B6%20%D8%A3%D9%8A%20%D8%B6%D8%B1%D8%A7%D8%A6%D8%A8%20%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9%20%D8%B9%D9%84%D9%89%20%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9%20%D9%88%D9%84%D8%A7%20%D9%8A%D9%88%D8%AC%D8%AF%20%D8%A3%D9%89%20%D9%86%D9%8A%D8%A9%20%D9%84%D8%B0%D9%84%D9%83\">the Finance Ministry<\/a><sup><\/sup><a href=\"https:\/\/www.mof.gov.eg\/ar\/posts\/media\/6135d0d078345e000acd83a4\/%D9%88%D8%B2%D9%8A%D8%B1%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9%3A%20%D9%84%D9%85%20%D9%86%D9%81%D8%B1%D8%B6%20%D8%A3%D9%8A%20%D8%B6%D8%B1%D8%A7%D8%A6%D8%A8%20%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9%20%D8%B9%D9%84%D9%89%20%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9%20%D9%88%D9%84%D8%A7%20%D9%8A%D9%88%D8%AC%D8%AF%20%D8%A3%D9%89%20%D9%86%D9%8A%D8%A9%20%D9%84%D8%B0%D9%84%D9%83\">said<\/a> yesterday after reports in the local press fuelled speculation that the government is planning to introduce a capital gains tax on shares at the beginning of next year.<\/p>\n<p><strong>What\u2019s the fuss about?<\/strong> <a href=\"https:\/\/www.youm7.com\/story\/2021\/9\/3\/%D8%A8%D8%AF%D8%A7%D9%8A%D8%A9-%D9%85%D9%86-%D9%8A%D9%86%D8%A7%D9%8A%D8%B1-2022-%D9%87%D8%B0%D9%87-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D8%A7%D9%84%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-%D8%A7%D9%84%D8%B1%D8%A3%D8%B3%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%B9%D9%84%D9%89\/5448685\">Tax regulations published<\/a> by local media suggested that a 10% tax on gains made from share disposal will come into force on 1 January. The rules \u2014 which outline taxes on the selling of shares and treasury bills \u2014 will only apply to resident investors, exempting foreigners from paying the 10% tax.<\/p>\n<p><strong>But the ministry says that this isn\u2019t the case:<\/strong> The ministry denied that the circular indicated that the tax will come into force next year, saying it was issued in order to clarify pre-existing regulations.<\/p>\n<p><strong>We\u2019ve been aware since last year that the CGT could make a comeback:<\/strong> As part of a raft of measures to support investment in Egyptian equities, the government last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1154689d-294f-4d45-95b4-84a76d67466c\">postponed the reintroduction of a capital gains tax on EGX transactions<\/a> until 1 January 2022.<\/p>\n<p><strong>What happens now? <\/strong><strong>We talk about it.<\/strong> With the postponement due to expire at the end of the year, policymakers will soon restart discussions on the future of an EGX capital gains tax, <a href=\"https:\/\/bit.ly\/2WUHPDA\">local media quoted<\/a> EGX Chairman Mohamed Farid saying, explaining that officials will have to weigh the tax\u2019s impact on the market. The ministry did not address when the tax could be reintroduced.<\/p>\n<p><strong>Plans for the capital gains tax were first introduced in 2015 <\/strong>before being <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/22\/stock-market-stamp-tax-could-be-reintroduced-govt-looking-to-suspend-capital-gains-tax\/\">postponed to 2017<\/a> due to concerns over its negative impact on investments. When 2017 rolled around, the capital gains tax was <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/16\/cabinets-economic-group-approves-stamp-tax\/\">replaced<\/a> by a 0.125% stamp tax on stock market transactions and shelved for a three-year period. Then in 2019, the tax was back on the table when it was <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\">reported<\/a> that officials were in serious talks over bringing it into effect in 2020, but the destabilizing effect of covid-19 on markets <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f075efe-7b2a-4bcd-998c-7b7cc26ff746\">pushed its implementation back<\/a> even further.<\/p>\n<p><strong>Policymakers have delayed the <\/strong><strong>tax to shore up investor confidence<\/strong>, but this has <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2015-05-24\/imf-criticizes-egypt-s-decision-to-delay-capital-gains-tax?sref=mmeFTDW1\">attracted criticism<\/a> from the IMF which said that in its absence the tax burden would disproportionately fall on poorer Egyptians.<\/p>\n<p><strong>Meanwhile, investors in real businesses continue to pay capital gains and dividend taxes <\/strong>because we, unlike retail investors in the EGX, lack a bright, shiny gauge to which we can point and complain.<\/p>\n<p><strong>OTHER CAPITAL MARKETS NEWS: <\/strong><\/p>\n<p><strong>The number of registered investors on the EGX has risen by 74% y-o-y in the first <\/strong><strong>seven months of 2021,<\/strong> EGX Chairman Mohamed Farid <a href=\"https:\/\/almalnews.com\/%D9%85%D8%AD%D9%85%D8%AF-%D9%81%D8%B1%D9%8A%D8%AF-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%B9%D8%AF%D8%AF-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D8%AB%D9%85%D8%B1%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D8%B3%D8%AC\/\">said<\/a> yesterday. He said there were 3.3. mn registered EGX investors in the January-July period, compared with 1.9 mn in the same period last year. Farid attributed the increase to EGX ad campaigns aimed at encouraging bourse activity, as well as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/daacade6-1abc-405f-9a6e-4db398cb1dc2\">new rules<\/a> that came into effect in February allowing 16-21 year-olds to trade on Egypt\u2019s stock exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors are not yet facing new taxes on stock market transactions, the Finance Ministrysaid yesterday after reports in the local press fuelled speculation that the government is planning to introduce a capital gains tax on shares at the beginning of next year. What\u2019s the fuss about? Tax regulations published by local media suggested that a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":557118,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[102,72,276,272,2221,766,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-enterpriseam","tag-finance-ministry","tag-imf","tag-mohamed-farid","tag-stamp-tax","tag-tax","wpautop","entry"],"acf":{"mongo_id":"7ca14915-4bc7-487d-8cfb-2504af8c00f3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/88.jpg","photo_position":"above","related_issue":[557111],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The EGX capital gains tax won\u2019t be making its comeback in January 2022 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/the-egx-capital-gains-tax-wont-be-making-its-comeback-in-january-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The EGX capital gains tax won\u2019t be making its comeback in January 2022\" \/>\n<meta property=\"og:description\" content=\"Investors are not yet facing new taxes on stock market transactions, the Finance Ministrysaid yesterday after reports in the local press fuelled speculation that the government is planning to introduce a capital gains tax on shares at the beginning of next year. 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El Monayer says Misr for Central Clearing, Depository and Registry will be responsible for collecting the tax. The House of Representatives\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651848,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/22\/division-in-the-finance-community-over-the-0-5-stamp-tax-rate-on-egx-transactions\/","url_meta":{"origin":557117,"position":2},"title":"Division in the finance community over the 0.5% stamp tax rate on EGX transactions","author":"enterpriseam admin","date":"22 February 2017","format":false,"excerpt":"Hating on the proposed 0.4-0.5% stamp tax on EGX transactions: First, Egyptian Financial Supervisory Authority (EFSA) Chairman Sherif Samy argued against the tax. Now, the members of the Securities Division at the Federation of Egyptian Chambers of Commerce have met with EGX Chief Mohamed Omran and members of the Egyptian\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":664812,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/a-look-into-the-govts-targeted-revenues-from-the-planned-stamp-tax-on-egx-transactions\/","url_meta":{"origin":557117,"position":3},"title":"A look into the gov\u2019t\u2019s targeted revenues from the planned stamp tax on EGX transactions","author":"enterpriseam admin","date":"7 May 2025","format":false,"excerpt":"The Finance Ministry is looking to collect some EGP 722 mn from the incoming stamp tax","rel":"","context":"In &quot;Tax&quot;","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":648169,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/30\/house-approves-capital-markets-stamp-tax-law-criminalizing-cheating-in-plenary-session-vote\/","url_meta":{"origin":557117,"position":4},"title":"House approves capital markets stamp tax, law criminalizing cheating in plenary session vote","author":"enterpriseam admin","date":"30 May 2017","format":false,"excerpt":"House approves capital markets stamp tax and a law criminalizing cheating: The House of Representatives approved changes to the income tax law in a plenary session vote on Monday that will impose a 0.125% stamp tax on the buy- and sell-sides of capital markets transactions, Al Borsa says. The duty,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647769,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/finance-ministry-forces-stay-on-capital-gains-tax-collection-until-law-is-passed\/","url_meta":{"origin":557117,"position":5},"title":"Finance Ministry forces stay on capital gains tax collection until law is passed","author":"enterpriseam admin","date":"18 May 2017","format":false,"excerpt":"The decision by the Finance Ministry telling Misr for Central Clearing, Depository, and Registry (MCDR) not to collect capital gains tax on stock market transactions enforces a stay on the tax\u2019s application until the House of Representatives reconvenes on 29 May, sources told Al Mal. The Ministry\u2019s decision effectively waits\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=557117"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557117\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557118"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557117"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557117"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}