July 10, 2017

Extension of the Capital Gain Tax Freeze on Listed Securities

On 19 June 2017, new amendments were introduced to the Income Tax Law by virtue
of Law no. 76 of 2017.

The amendments extended the suspension of the application of the capital gain tax on
the sale of listed securities for a further period of 3 years to start application as of 17
May 2020. Capital gain tax was first introduced in Egypt on 2014 and has been
suspended for two years as of 17 May 2017.

In addition, acquiring 33% or more of a company’s shares or voting rights is no longer
considered a change of the company’s legal form for capital gain tax purposes.

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