Egypt’s Finance Ministry is recommending the implementation of a stamp duty on stock exchange transactions of 0.2 percent on both sellers and buyers, a senior ministry official told Reuters on Thursday.
The official said he expects the stamp duty to come into effect before May and generate revenue of 1-1.5 billion Egyptian pounds ($63 million to $94.5 million) in 2017/18.
“We will send the income tax law amendments in early March to parliament, and it will include imposing a stamp tax on bourse transactions of 4 pounds per 1,000, which will be 2 pounds per 1,000 on the seller and 2 pounds per 1,000 on the buyer,” the official said.
“We are targeting implementation of that tax before next May,” he added.
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Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49