Capital Gains Tax
Moderators: DJKeefy, 4u Network
- Chocolate Eclair
- Royal V.I.P
- Posts: 1621
- Joined: Sun Aug 22, 2010 4:56 pm
- Location: Luxor Egypt
- Has thanked: 37 times
- Been thanked: 300 times
- Gender:
- Contact:
Capital Gains Tax
Egypt are to apply Capital Gains Tax from this coming Monday, the amount has not yet been advertised.
Seems like they are really looking to Western World Ways of raising funds, in a way that everyone contributes, people will just have to realise that if they want their Country to rise from the ashes they are all going to have to contribute in some way or other. Good for them is my attitude, for so long the raising of money to make the Country strong again has been Airey Fairey, now they have grasped the bull by the horns and hopefully will move forward. I presume more treasury taxes will be forthcoming in the near future.
The way they are doing it is fair, they realise that a form of income tax will not work because many are working and presumably are not even registered has being so, to help both the employer and the employee, this way they get the income by what people spend.
Seems like they are really looking to Western World Ways of raising funds, in a way that everyone contributes, people will just have to realise that if they want their Country to rise from the ashes they are all going to have to contribute in some way or other. Good for them is my attitude, for so long the raising of money to make the Country strong again has been Airey Fairey, now they have grasped the bull by the horns and hopefully will move forward. I presume more treasury taxes will be forthcoming in the near future.
The way they are doing it is fair, they realise that a form of income tax will not work because many are working and presumably are not even registered has being so, to help both the employer and the employee, this way they get the income by what people spend.
-
- Egyptian God
- Posts: 8695
- Joined: Thu Oct 17, 2013 11:49 am
- Has thanked: 1548 times
- Been thanked: 5127 times
- Contact:
Re: Capital Gains Tax
The tax is only on shares traded on the stock exchange and dividends so will only affect a miniscule number of (fairly rich) people. The minister reckons it could raise $500 million....so take $50 million as being realistic....if you can collect it.
A move in the right direction.....but a tax on real estate gains would have been more interesting and lucrative.
Maybe this is in the pipeline
A move in the right direction.....but a tax on real estate gains would have been more interesting and lucrative.
Maybe this is in the pipeline
- Chocolate Eclair
- Royal V.I.P
- Posts: 1621
- Joined: Sun Aug 22, 2010 4:56 pm
- Location: Luxor Egypt
- Has thanked: 37 times
- Been thanked: 300 times
- Gender:
- Contact:
- Brian Yare
- Royal V.I.P
- Posts: 2566
- Joined: Mon Dec 01, 2008 4:11 pm
- Location: Worcester, UK
- Has thanked: 720 times
- Been thanked: 647 times
- Gender:
- Contact:
Re: Capital Gains Tax
CGT on dividends is an interesting concept. I've not encountered elsewhere in nearly 50 years of trading.newcastle wrote:The tax is only on shares traded on the stock exchange and dividends so will only affect a miniscule number of (fairly rich) people. The minister reckons it could raise $500 million....so take $50 million as being realistic....if you can collect it.
A move in the right direction.....but a tax on real estate gains would have been more interesting and lucrative.
Maybe this is in the pipeline
-
- Egyptian God
- Posts: 8695
- Joined: Thu Oct 17, 2013 11:49 am
- Has thanked: 1548 times
- Been thanked: 5127 times
- Contact:
Re: Capital Gains Tax
I think the description of the tax in various articles was a bit "loose". It's a 10% tax on capital gains and stock dividends.Brian Yare wrote:CGT on dividends is an interesting concept. I've not encountered elsewhere in nearly 50 years of trading.newcastle wrote:The tax is only on shares traded on the stock exchange and dividends so will only affect a miniscule number of (fairly rich) people. The minister reckons it could raise $500 million....so take $50 million as being realistic....if you can collect it.
A move in the right direction.....but a tax on real estate gains would have been more interesting and lucrative.
Maybe this is in the pipeline
- Dusak
- Egyptian Pharaoh
- Posts: 6190
- Joined: Sun May 11, 2008 2:29 pm
- Location: LUXOR
- Has thanked: 3241 times
- Been thanked: 3812 times
- Gender:
Re: Capital Gains Tax
They could well be heading in that direction now, as from today, according to the news, they have increased fuel prices by up to 78%Chocolate Eclair wrote:The Country would be richer than the uk if this was to be implemented.
Life is your's to do with as you wish- do not let other's try to control it for you. Count Dusak- 1345.
-
- Egyptian God
- Posts: 8695
- Joined: Thu Oct 17, 2013 11:49 am
- Has thanked: 1548 times
- Been thanked: 5127 times
- Contact:
Re: Capital Gains Tax
Knowing this was on the way I filled my tank (50 litres) yesterday. I reckon I've saved myself 30LE Well....as Tesco says....Dusak wrote:They could well be heading in that direction now, as from today, according to the news, they have increased fuel prices by up to 78%Chocolate Eclair wrote:The Country would be richer than the uk if this was to be implemented.
- Bullet Magnet
- Royal V.I.P
- Posts: 2530
- Joined: Sat Nov 21, 2009 10:38 am
- Location: Le Manège Enchanté
- Has thanked: 5362 times
- Been thanked: 1475 times
- Contact:
Re: Capital Gains Tax
Often in the UK, we hear of an impending price rise or fuel shortage..
The knock on effect is that everyone fills up in advance, thus adding valuable coinage into the government coffers via the extortionate taxes we have on fuel, and the VAT on the taxes...
Me ? well if there's no fuel, then I cant go to work, shame, But then, there always has been fuel available..
The knock on effect is that everyone fills up in advance, thus adding valuable coinage into the government coffers via the extortionate taxes we have on fuel, and the VAT on the taxes...
Me ? well if there's no fuel, then I cant go to work, shame, But then, there always has been fuel available..
There's a time for everyone, if they only learn
That the twisting kaleidoscope moves us all in turn.
That the twisting kaleidoscope moves us all in turn.
-
- Egyptian God
- Posts: 8695
- Joined: Thu Oct 17, 2013 11:49 am
- Has thanked: 1548 times
- Been thanked: 5127 times
- Contact:
Re: Capital Gains Tax
Update on petrol.
92 Octane which was 185LE per litre is now 260LE. At my local garage it will take a little while to amend the pump gauges and a queue of cars is building up while we await "the man" to do this. Well...it is Ramadan ....and he does have to come from that planet orbiting Sirius B.
Bokra insh'allah?
92 Octane which was 185LE per litre is now 260LE. At my local garage it will take a little while to amend the pump gauges and a queue of cars is building up while we await "the man" to do this. Well...it is Ramadan ....and he does have to come from that planet orbiting Sirius B.
Bokra insh'allah?
- Brian Yare
- Royal V.I.P
- Posts: 2566
- Joined: Mon Dec 01, 2008 4:11 pm
- Location: Worcester, UK
- Has thanked: 720 times
- Been thanked: 647 times
- Gender:
- Contact:
Re: Capital Gains Tax
185 and 260? There seems to have been a lot of inflation since my last visit. I suspect that you might mean 1.85LE and 2.60LE. That is still only about 20% of what we pay for 95 Octane in the UK.newcastle wrote:Update on petrol.
92 Octane which was 185LE per litre is now 260LE. At my local garage it will take a little while to amend the pump gauges and a queue of cars is building up while we await "the man" to do this. Well...it is Ramadan ....and he does have to come from that planet orbiting Sirius B.
Bokra insh'allah?
-
- Egyptian God
- Posts: 8695
- Joined: Thu Oct 17, 2013 11:49 am
- Has thanked: 1548 times
- Been thanked: 5127 times
- Contact:
Re: Capital Gains Tax
Well ....it's 6.25LE (found the decimal point this time!) for 95.....probably not that different to the UK if you strip out the tax differential.Brian Yare wrote:185 and 260? There seems to have been a lot of inflation since my last visit. I suspect that you might mean 1.85LE and 2.60LE. That is still only about 20% of what we pay for 95 Octane in the UK.newcastle wrote:Update on petrol.
92 Octane which was 185LE per litre is now 260LE. At my local garage it will take a little while to amend the pump gauges and a queue of cars is building up while we await "the man" to do this. Well...it is Ramadan ....and he does have to come from that planet orbiting Sirius B.
Bokra insh'allah?
- Dusak
- Egyptian Pharaoh
- Posts: 6190
- Joined: Sun May 11, 2008 2:29 pm
- Location: LUXOR
- Has thanked: 3241 times
- Been thanked: 3812 times
- Gender:
Re: Capital Gains Tax
As the saying goes, there's no fool like an old fuel.newcastle wrote:Well ....it's 6.25LE (found the decimal point this time!) for 95.....probably not that different to the UK if you strip out the tax differential.Brian Yare wrote:185 and 260? There seems to have been a lot of inflation since my last visit. I suspect that you might mean 1.85LE and 2.60LE. That is still only about 20% of what we pay for 95 Octane in the UK.newcastle wrote:Update on petrol.
92 Octane which was 185LE per litre is now 260LE. At my local garage it will take a little while to amend the pump gauges and a queue of cars is building up while we await "the man" to do this. Well...it is Ramadan ....and he does have to come from that planet orbiting Sirius B.
Bokra insh'allah?
Life is your's to do with as you wish- do not let other's try to control it for you. Count Dusak- 1345.
-
- Similar Topics
- Replies
- Views
- Last post
-
- 0 Replies
- 739 Views
-
Last post by Bombay
-
- 5 Replies
- 992 Views
-
Last post by Adamantium
-
- 5 Replies
- 1452 Views
-
Last post by newcastle
-
- 3 Replies
- 594 Views
-
Last post by Glyphdoctor
-
- 31 Replies
- 4176 Views
-
Last post by Hafiz