Egypt mulling new way of tax collection from foreign investors in bourse

Egyptian Investment Minister Ashram Salman said the government is mulling changing the way it collects taxes from foreign investors in the Stock Exchange.
Now, the Egyptian government takes six percent of foreigners' profits on each bourse transaction immediately without waiting for final settlements.
Salman, currently in Dubai to attend 11th Annual One-on-One Conference 2015 of EFG Hermes Group, said negotiations are under way between the Egyptian ministries of investment and finance to find more flexible way to collect taxes from foreign investors in the bourse.
The step comes as part of the Egyptian government's efforts to lure more investors and iron out problems they face in the Egyptian market.