An Economic Group meeting was held yesterday headed by the Prime Minister, and the presence of the Governor of the Central Bank of Egypt, Ministers of Trade, Industry & Investment , Minister of Finance, and in the presence of EFSA chairman and EGX chairman to discuss the recent amendments to the law on capital gains tax.
Dr. Mohammed Omran said the meeting reached a number of amendments; First of which is that the bonus shares will not be taxable with no need for time-limit minimum to retain investor and Second amendment that the a tax on dividends will be for a minimum value of distributions of 15 thousand EGP.
Omran said that EGX management will continue to work on maintaining the attractiveness of the market through the diversification of financial instruments to investors while still working on the creation of new catalysts .
In the meeting, Participants also stressed the importance of the capital market and its important role in the mobilization to help companies get financing through the stock exchange. The government on its part has always supported the existence of an efficient capital market can play a pivotal role in the economic development process .
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EGX Chairman Participates In The Economic Group Meeting To Discuss Amendments To The Law Of Capital Gains Tax
Date 02/06/2014