Luxor4u

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.

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

The Country would be richer than the uk if this was to be implemented.

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

CGT on dividends is an interesting concept. I've not encountered elsewhere in nearly 50 years of trading.

Brian Yare wrote:

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

CGT on dividends is an interesting concept. I've not encountered elsewhere in nearly 50 years of trading.

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.

Chocolate Eclair wrote:The Country would be richer than the uk if this was to be implemented.

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%

Dusak wrote:

Chocolate Eclair wrote:The Country would be richer than the uk if this was to be implemented.

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%

Knowing this was on the way I filled my tank (50 litres) yesterday. I reckon I've saved myself 30LE Well....as Tesco says....

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..

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?

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?

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.

Brian Yare wrote:

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?

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.

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.

newcastle wrote:

Brian Yare wrote:

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?

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.

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.

As the saying goes, there's no fool like an old fuel.