Egyptian Cabinet Approves Additional COVID-19 Relief Measures Focusing on the Egyptian Stock Exchange

The Egyptian Cabinet has reportedly approved additional relief measures in light of the COVID-19 pandemic. Several of the measures are in relation to the Egyptian Stock Exchange (EGX) and include:

• The suspension of capital gains tax on gains from the disposal of securities listed on the EGX to 31 December 2021 for residents, while a permanent suspension (exemption) is provided for non-residents (suspension previously provided to 16 May 2020);
• A reduction in withholding tax on dividends distr…