The president of the Egyptian Stock Exchange, Dr. Mohamed Farid, announced that the next phase will see intense meetings and meetings with financial policy makers to inform them of the expected impact of the application of the capital gains tax on the performance of the stock exchange and the proposed proposals.
He stressed that the talks will focus on reviewing the impact of the tax and determining its cost on market performance relative to the return to macroeconomic level, before addressing alternatives and proposals related to implementation.
Millions and heads of companies called to be The capital gains tax to be applied at the beginning of the new year in Egyptian bag, negotiable, because the sitting of government agencies and stock market parties at a negotiating table will lead to a solution that makes a profit for the interest of the Egyptian market and economy and its prosperity and increased foreign and Egyptian investment.
Some of them argued that among the major elements of the dispute over the enforcement mechanism is the distinction between holders of Egyptian nationality, residents and non-residents, imposing a tax on the resident and not imposing it on the Egyptian non-resident.
They warned that this would lead to the avoidance of setting up companies overseas to enter the Egyptian market on the grounds that the investor is not a resident, and all of these matters need to be addressed. in consideration and negotiate with market parties to reach a formula that amply satisfies the money market and the trader.
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