Capital Gains Tax on Trading Listed Securities
Taxing capital gains generated from trading listed securities on the Egyptian Exchange (“CGT”) raised several difficulties concerning the subject and timing of its entry into force. The CGT, organized under the income tax law No. 91 of 2005 (the “Income Tax Law”), has been subject to consecutive amendments of late. This article examines Law No. […]
read moreNew Environmental and Social Disclosures: The FRA’s Strategy to Attract Green Investors
Global markets are progressively shifting to more sustainable business operations driving the need to establish tools to foster this shift. Shareholders and investors are becoming increasingly concerned with diverting their investments in corporations and projects with sustainable business models. As such, environmental and social reporting tools are developed to aid shareholders and investors to assess […]
read moreAmendments to the Supreme Constitutional Court’s Law
In a quite unexpected and surprising move, the Egyptian government submitted a draft amendment (the “Amendment”) to the Supreme Constitutional Court’s law No. 48 of 1979 (the “SCC Law”). The purpose of the Amendment was to expand the mandate of the Supreme Constitutional Court (the “SCC”) by reviewing the constitutionality of foreign judgments and decisions […]
read moreThe National Council for Wages Sets a New Minimum Wage for Employees in the Private Sector
On 28 June 2021, the National Council for Wages (the “NCW”) announced that it has set a new minimum wage for private-sector employees (the “Decision”). In addition, the Decision provides for new periodic increment schemes that private-sector employees will benefit from. The Decision comes in alignment with the Egyptian government’s action plan to mitigate the […]
read moreThe New Law Regulating Advertisements on Public Roads
Law No. 208 for 2020 regulating advertisements on public roads was promulgated on 30 November 2020 (the “Law”). The Law repeals the previously enacted Law No. 66 for 1956 regulating advertisements, in addition to certain provisions of Law No. 84 for 1968 on public roads and the Construction Law No. 119 for 2008. The Law […]
read moreFRA Issues Comprehensive Anti-Money Laundering and Counter-Terrorism Financing Regulation
The Financial Regulatory Authority (“FRA”) issued Decree No. 2 for the year 2021 (the “Decree”) setting forth comprehensive rules concerning the monitoring and control of anti-money laundering and counter-terrorism financing (“MLTF”) for entities operating in the non-banking financial sector (the “Entities”). On 18 January 2021, the FRA issued the Decree replacing and repealing a series […]
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