Egypt approves capital gains, dividends tax

July 2, 2014 1:06 am

Egypt’s newly elected president has approved a law on Tuesday imposing a new 10% tax on capital gains and stock dividends, as the country seeks to revive an economy battered by more than three years of political turmoil, Reuters has reported. The tax applies to dividends and capital gains made from trading stocks on the Egyptian stock market, as well as unlisted companies. “(This) comes in response to the major challenges which the Egyptian economy has faced which demand coordination of all efforts to protect and rebuild confidence in it,” the presidency said.