Maher said the law constitutes a "double taxation", as companies pay taxes on their earnings before distributing coupons for net profits.
The Securities Division held an emergency meeting on Monday to discuss the tax bill on stock market transactions. The cabinet has forwarded the bill to
According to Maher, the government must choose between returns made on the tax’s application and the cost of its application. Its expected revenues do not exceed
The law will not only impact companies listed on the stock exchange, but will have spillover effects as well, he added.
Regarding coordination between the
Despite the law’s disadvantages, the
During the emergency meeting for the Security Division of the
The Egyptian stock indices have tumbled in recent days, with trading closing on Sunday marking the end of three days of losses amounting to
Khairy demanded the disclosure of the names of companies that sold during Wednesday and Thursday trading.
The Egyptian Cabinet referred the bill to the president to sign once amendments are made.
The cabinet approved a dividend exemption on bonus shares retained for any length of time. It also agreed to raise the exemption limit for cash dividends belonging to natural persons from
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