CAIRO, May 1 (MENA) – The Egyptian government will take legal action against promoters of false, unverified news meant to harm the Egyptian Exchange (EGX) and destabilize the economy, said spokesman Mohamed el Hommosani Wednesday.

Directives to that effect were issued during a Cabinet meeting chaired by the prime minister earlier today.

Rumor recently had it that a capital profit tax would be applied on gains from EGX-listed securities.

It was agreed during the meeting that the Egyptian Tax Authority would work with Misr for Central Clearing, Depository and Registry (MCDR) to define procedures needed to calculate and collect taxes of 2024, Hommosani noted. (MENA)

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