Egypt to lower taxes to support stock market -cabinet statement
CAIRO, Nov 10 (Reuters) - Egypt plans to lower taxes on equity trades and cancel some duties in a bid to support the stock market and improve business sentiment, the government said in a statement.
The plans include cutting taxes on realized profit from new offerings by 50% for two years, abolishing a stamp duty on securities exchange trades for resident investors and lowering taxes for retail investors participating in stock funds to 5%, the cabinet said after meetings chaired by the prime minister.
(Reporting by Moamen Said Atallah Editing by Chris Reese Writing by Ahmad Elhamy)
