Omran: IMF did not intervene to impose a tax on the stock market

Cairo - Mohamed Omran, Chairman of the Egyptian stock exchange, that the draft amendments to tax which was proposed by the government which include the imposition of taxeson profits earned from trading in the stock exchange is a decision by the Egyptian governemnt and that there were no interference from the International Monetary Fund (IMF) .

He added that the recent amendments to the law will contribute to the increased growth rate of the companies, because the money invested in increasing the company's activity through capital hikes  and retained earnings will be exempt from taxes.

Omran said that any new taxes are not usually welcommed by investors, stressing that the new tax comes in accordance with the government's financial policies to achieve economic reform which would benefit all egyptians, including investors.