{"id":596623,"date":"2019-07-03T13:36:30","date_gmt":"2019-07-03T13:36:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/finmin-egx-to-restore-the-old-capital-gains-tax-regime\/"},"modified":"2019-07-03T13:36:30","modified_gmt":"2019-07-03T13:36:30","slug":"finmin-egx-to-restore-the-old-capital-gains-tax-regime","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/finmin-egx-to-restore-the-old-capital-gains-tax-regime\/","title":{"rendered":"FinMin, EGX to restore the old capital gains tax regime"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>EXCLUSIVE- Gov\u2019t to restore the old capital gains tax regime under its latest proposal:<\/b> A government committee looking to amend the capital gains tax (CGT) is proposing to restore the old tax rate of 10% on gains from the sale of shares in both EGX-listed and non-listed companies, a number of government officials we spoke with told us on Monday.<\/p>\n<p><b>Stamp tax for non-residents only: <\/b>The new proposal will also see the stamp tax on stock market transactions eliminated for residents in Egypt. A stamp tax will remain in place for non-residents, but will be lowered to 0.1% from 0.15%. Investors who have lived in Egypt for 182 days or more will be considered residents. Officials tell us that the proposal would abide by dual-taxation agreements signed.<\/p>\n<p><b>Proposal is with the Madbouly Cabinet: <\/b>The proposed changes to the tax will be sent to the Cabinet for review before being introduced to the House of Representatives in its next legislative cycle, which begins in October, the officials added.<\/p>\n<p><b>Where do we stand today?<\/b> Right now, anyone making a gain on the sale of shares in a privately held company is taxed at 22.5%. The levy on gains made trading in shares of EGX-listed companies stands at 10% on the books, but has been \u201csuspended\u201d until May 2020.<\/p>\n<p><b>This sounds eerily familiar: <\/b>Representatives in the House Economics Committee had been <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/10\/house-planning-and-budget-committee-to-discuss-unifying-capital-gains-tax\/\">planning to move forward last month<\/a> with a separate plan to unify capital gains tax, which could see both listed and non-listed companies face a 10% tax. The plan was proposed at a time when the government was still unclear on how it would restore the tax. The Tax Authority had said at the time that it would not back the move. The plan is currently still with the committee and is expected to be debated when the House reconvenes.<\/p>\n<p><b>Background: <\/b>After a revolt by retail investors, officials shelved the old tax proposal in 2017 for a three-year period \u2014 and replaced the measure with a provisional stamp tax. The full introduction of the tax was a recommendation of the IMF, and reports in the local press citing unnamed government sources had suggested <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/09\/egypts-govt-doesnt-intend-to-reintroduce-the-capital-gains-tax\/\">in May<\/a> that the government would not be bringing back the tax \u201canytime soon\u201d despite deciding to keep the stamp tax on EGX trades unchanged at 0.15% this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- Gov\u2019t to restore the old capital gains tax regime under its latest proposal: A government committee looking to amend the capital gains tax (CGT) is proposing to restore the old tax rate of 10% on gains from the sale of shares in both EGX-listed and non-listed companies, a number of government officials we spoke [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":596624,"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":[8572],"tags":[68,72,276,2380,766,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-egx","tag-enterpriseam","tag-finance-ministry","tag-speed-round","tag-stamp-tax","tag-tax","wpautop","entry"],"acf":{"mongo_id":"ad724b55-f332-4113-90ae-4c63b6d50381","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/773.jpg","photo_position":"above","related_issue":[596618],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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One proposal put forth by the Egyptian Capital\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\/2020\/2\/259.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598591,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/29\/egypt-could-combine-stamp-duty-capital-gains-taxes-on-egx-investments\/","url_meta":{"origin":596623,"position":1},"title":"Egypt could combine stamp duty, capital gains taxes on EGX investments","author":"enterpriseam admin","date":"29 May 2019","format":false,"excerpt":"Egypt could combine stamp duty and capital gains taxes on stock market investments to reduce the financial burden on investors, EGX boss Mohamed Farid told Reuters. Proposed amendments could have the government refund a portion of the stamp duty if its value exceeded capital gains that are paid towards the\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":598827,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/10\/house-planning-and-budget-committee-to-discuss-unifying-capital-gains-tax\/","url_meta":{"origin":596623,"position":2},"title":"House Planning and Budget Committee to discuss unifying capital gains tax","author":"enterpriseam admin","date":"10 June 2019","format":false,"excerpt":"LEGISLATION WATCH- House pushes ahead with proposal on capital gains tax reform: The House of Representatives\u2019 Planning and Budget Committee is planning to move forward with its plans to unify capital gains tax, despite the Tax Authority having already shot the idea down, the committee\u2019s deputy chair Yasser Omar told\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":593996,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/16\/finmin-approves-plan-to-kill-capital-gains-tax-on-egx-trades-cut-stamp-tax-by-a-third\/","url_meta":{"origin":596623,"position":3},"title":"FinMin approves plan to kill capital gains tax on EGX trades, cut stamp tax by a third","author":"enterpriseam admin","date":"16 October 2019","format":false,"excerpt":"FinMin approves plan to kill capital gains tax on EGX trades, cut stamp tax by a third: The Finance Ministry has \u201cpreliminarily approved\u201d proposals to scrap plans to introduce a capital gains tax on EGX trades and to slash by as much as one third the stamp tax on EGX\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\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659929,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/04\/when-can-we-expect-the-stamp-tax-to-replace-the-planned-capital-gains-levy-on-egx-transactions\/","url_meta":{"origin":596623,"position":4},"title":"When can we expect the stamp tax to replace the planned capital gains levy on EGX transactions?","author":"enterpriseam admin","date":"4 February 2025","format":false,"excerpt":"The capital gains tax has continued to be unenforced due to the absence of executive regulations","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591467,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/capital-gains-tax-on-egx-trades-could-be-making-a-comeback-as-soon-as-this-month\/","url_meta":{"origin":596623,"position":5},"title":"Capital gains tax on EGX trades could be making a comeback as soon as this month","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"Is the capital gains tax on EGX trades back in play? We suspect so, given a recent media report on a proposal by a finance industry association that comes across as a bid to shape the debate over the reintroduction of the measure. So, what\u2019s the issue? The government said\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\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596623","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=596623"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596623\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596624"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596623"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596623"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}