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English news

01-Aug-2016

IMF did not demand tax system review; capital gains tax could be up for future discussions, Deputy Finance Minister says

The International Monetary Fund (IMF) has not demanded a review of the tax system, the Deputy Finance Minister Amr El-Monayer said, adding that the government tax policies align with the IMF’s views. The fund did not comment on the suspended 10% capital gains tax and the government was planning to review it at a later stage. The government suspended the measure for two years after it was made on the EGX in May 2015, responding to retail investors objections and overturning IMF’s criticism then that delay adds public finances burdens on the those who are less able to afford it. (Al Shorouk)

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