{"id":598542,"date":"2019-05-28T03:57:05","date_gmt":"2019-05-28T03:57:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/"},"modified":"2019-05-28T03:57:05","modified_gmt":"2019-05-28T03:57:05","slug":"finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/","title":{"rendered":"FinMin, Egyptian bourse are in \u201cserious talks\u201d over amending capital gains tax framework"},"content":{"rendered":"

<\/a> EXCLUSIVE- FinMin, EGX are in \u201cserious talks\u201d to bring in a capital gains tax next year:<\/b> The Finance Ministry and EGX are working on potential scenarios for the implementation of a capital gains tax on stock market transactions when the levy comes back into effect next year, EGX boss Mohamed Farid tells Enterprise. The Egyptian Capital Markets Association and Financial Regulatory Authority are also providing suggestions and input to figure out a workable scenario.<\/p>\n

What kind of amendments are we looking at here?<\/b> Among the scenarios currently on the table is calculating the tax differently for domestic and foreign investors, Farid tells us, but declined to provide further details on the proposed mechanism. Although it is still early days, the EGX boss said the capital gains tax will not replace the stamp tax on EGX trades \u2014 the two could be in effect simultaneously.<\/p>\n

Background:<\/b> After a revolt by retail investors, a tax on capital gains made on the EGX was shelved in 2017 for a three-year period and replaced by 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 earlier this month<\/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 0.150%.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- FinMin, EGX are in \u201cserious talks\u201d to bring in a capital gains tax next year: The Finance Ministry and EGX are working on potential scenarios for the implementation of a capital gains tax on stock market transactions when the levy comes back into effect next year, EGX boss Mohamed Farid tells Enterprise. The Egyptian […]<\/p>\n","protected":false},"author":1,"featured_media":598543,"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-598542","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":"9c6b2380-e409-4c64-b209-497de15651f7","is_powered_by":true,"section_story_id":"bc7f2660-0966-4f2e-bd52-d84eff677c7e","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/198.jpg","photo_position":"above","related_issue":[598535],"teaser":"","voice_url":""},"yoast_head":"\nFinMin, Egyptian bourse are in \u201cserious talks\u201d over amending capital gains tax framework - 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\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin, Egyptian bourse are in \u201cserious talks\u201d over amending capital gains tax framework\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- FinMin, EGX are in \u201cserious talks\u201d to bring in a capital gains tax next year: The Finance Ministry and EGX are working on potential scenarios for the implementation of a capital gains tax on stock market transactions when the levy comes back into effect next year, EGX boss Mohamed Farid tells Enterprise. The Egyptian […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-28T03:57:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FinMin, Egyptian bourse are in \u201cserious talks\u201d over amending capital gains tax framework\",\"datePublished\":\"2019-05-28T03:57:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\"},\"wordCount\":237,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EGX\",\"EnterpriseAM\",\"Finance Ministry\",\"SPEED ROUND\",\"stamp tax\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/finmin-egyptian-bourse-are-in-serious-talks-over-amending-capital-gains-tax-framework\/\",\"name\":\"FinMin, Egyptian bourse are in \u201cserious talks\u201d over amending capital gains tax framework - 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As matters stand today, dividends paid by listed and privately held\u2026","rel":"","context":"In "Speed Round"","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":598591,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/29\/egypt-could-combine-stamp-duty-capital-gains-taxes-on-egx-investments\/","url_meta":{"origin":598542,"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 "Speed Round"","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":557117,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/the-egx-capital-gains-tax-wont-be-making-its-comeback-in-january-2022\/","url_meta":{"origin":598542,"position":2},"title":"The EGX capital gains tax won\u2019t be making its comeback in January 2022","author":"enterpriseam admin","date":"7 September 2021","format":false,"excerpt":"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\u2026","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/88.jpg?fit=%2C&ssl=1&resize=350%2C200","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":598542,"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 "Speed Round"","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":596623,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/finmin-egx-to-restore-the-old-capital-gains-tax-regime\/","url_meta":{"origin":598542,"position":4},"title":"FinMin, EGX to restore the old capital gains tax regime","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In "Speed Round"","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":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":598542,"position":5},"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 "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598542","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=598542"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598542\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/598543"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598542"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598542"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}