Regulatory Alerts2017-01-01
Circular No. (1) for the Year 2017
The Egyptian Financial Supervisory Authority requires investment funds and their managers to calculate a capital gains tax provision on transaction proceeds effective May 17, 2017, upon the expiration of the current statutory tax suspension. This directive safeguards fund net asset values and policyholder shares while the government's draft law to extend the suspension remains pending legislative approval. Fund operators must implement this accounting measure immediately to ensure regulatory compliance and accurate financial reporting.
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