The Egyptian Cainet agreed that the capital gains tax will be collected on the stock exchange (EGX) starting from the March 2025 tax season, in light of the need for further clarification of the procedures for calculating and collecting the tax.
This came during the Prime Minister’s meeting, this evening, at the government headquarters in the New Administrative Capital, to discuss ways to develop the stock market (the Stock Exchange).
Mohamed El-Homsani, the official spokesman for the Cabinet said that the meeting discussed the anonymous news that was circulated and published during the past short period regarding the application of the capital gains tax resulting from the disposal of securities listed on the stock exchange.
He added that in light of what was presented about the non-issuance of the executive regulations and required procedures for calculating and collecting the tax, and the need for further clarification of the procedures for calculating and collecting the tax through the Masr El Makasa, a consensus has been reached that the tax will be collected starting from the March/April 2025 tax season.
It was also agreed that the Tax Authority, in cooperation with Masr El Makasa will develop the necessary procedures to calculate and collect the tax for the year 2024.
On the other hand, legal measures were directed to be taken against the publishing og false news based on unknown sources and aimed at causing harm to the stock exchange and destabilizing the Egyptian economy.
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