VOL. XLII

No. 38

20-September-1999

EGYPT

New Legislation To Exempt Egyptian Companies From CapitalGains Tax

New legislation relating to capital gains tax may encouragefurther investment into the Egyptian stock exchange and will give Egyptiancompanies a greater incentive to move investments into the local equity marketand out of cash and time deposits, according to lawyers and analysts in Cairo.A proposed change in the law governing tax levied on companies which accumulatecapital gains on the sale...