Egyptian Exchange
| Egyptian Exchange | |
|---|---|
| legal form | Private |
| founding | 1883 and 1903 |
| Seat |
Cairo and Alexandria , Egypt
|
| Website | www.egx.com.eg |
The Egyptian Exchange (EGX) consists of two exchanges in Cairo and Alexandria , both administered by the same board of directors and with the same trading, clearing and settlement system. The Alexandria Stock Exchange was founded in 1883 and that of Cairo in 1903. Trade between the exchanges in Cairo and Alexandria has been standardized since 1996. In 2008, the two exchanges were finally merged under the name Egyptian Exchange. The leading index of the exchange is the EGX 30 index , which includes the 30 largest companies on the exchange.
Transactions on the stock exchange are not subject to capital gains tax. Dividends distributed to shareholders by listed companies are tax-free. However, in 2013 a capital gains tax of 10% was levied on mergers and acquisitions on the stock exchange. In 2013, the Treasury Department announced that the government intended to remove a 10 percent capital gains tax on mergers and acquisitions and a proposed cash dividend tax.
The exchange is a member of the Federation of Euro-Asian Stock Exchanges .
Individual evidence
- ↑ . :: Egyptian Exchange ::. Retrieved December 16, 2019 .
- ^ New tax casts gloom over stock exchange. February 27, 2013. Retrieved December 16, 2019 (American English).
- ↑ market Tax repeals long-awaited positive signal for Egypt's equity - Economy - Business. Retrieved December 16, 2019 .