Government to meet with brokerages houses next week to hash out the stamp tax: Investment and International Cooperation Minister Sahar Nasr is planning to sit down with brokerage firms next week to address their concerns about a proposed stamp tax on stock market transactions, Al Borsa reports. Finance Minister Amr El Garhy said on Sunday that the stamp tax is coming before May, but that the rate was yet to be set. Brokers were still wary of the idea after the Tax Authority suggested a 0.175% rate on both the buy and sell side of each transaction on Sunday, saying that while it may have little-to-no effect on foreign and institutions, it could be an issue for the retail investors that account for most of the EGX’s turnover. The Egyptian Capital Markets Association, an industry lobby group, believes a tax higher than the 0.1% levy imposed in 2013 and scrapped the year after would harm the EGX.

Developers of private free zones may now take a deep breath: GAFI overlord Mohamed Khodeir reassured investors in private free zones investors that they would be allowed to extend their agreements with the state under the new Investment Act, even though the act will not allow the creation of new private FZs. Youm7 has the story.