Pre-Trading Thoughts

MPs gave their final approval yesterday to a fresh batch of tax amendments — to add EGP 1.2 billion to state revenues. The bill will be passed to the President to sign into law. Investors will be charged the 10% capital gains tax on only 50% of the realized gains made from selling shares in newly-listed companies. This will fall to 25% two years after the passage of the legislation. Income made from investments in venture capital funds, real estate investment funds, holding compan...