Egypt to cancel stock market taxes

Egypt has decided to scrap plans to tax stock market dividends and mergers and acquisitions, an aide to the finance minister told Reuters on Monday.Shareholders will be refunded for taxes collected on the acquisition of National Societe Generale Bank by Qatar National Bank finalized last month, Abdallah Shehata, head of the economic committee of the Muslim Brotherhood's Freedom and Justice Party told Reuters.Egypt's stock market was quick to react to the aide's announcements, first made on private Egyptian television channel CBC on Sunday night, by gaining 1.4 percent an hour beofre Monday session ends. source : Ahramonline