The Egyptian Senate, in its session, which will be held on Sunday, will discuss the proposed capital gains tax to be applied in the Egyptian Stock Exchange.
The Ministry of Finance, during a meeting in the Senate today, will review its responses to the inquiries of representatives of securities associations and brokerage firms, which they submitted during a meeting with the Senate Economic Committee last week Regarding the repercussions of applying the capital gains tax law on stock exchange transactions early next year
Rep. Ahmed Samir, a member of the Senate Financial and Economic Affairs and Investment Committee, told Al Borsa that last week's meeting in the Senate conveyed the full picture from the capital market representatives about The possibility of applying the law and changing the contractionary policy at the time of the law’s enactment to an expansionary policy at the present time.
Samir added that today's meeting is expected to hear the opinion of the Ministry of Finance on how to deal with the current situation, provided that the Minister of Finance or his representative is present at the meeting. That, and in the presence of representatives of the Egyptian Investment and Stock Exchange and the Egyptian Financial Supervisory Authority.
