Back to the complete issue
Wednesday, 8 May 2019

FinMin calls off EGX stamp tax increase

FinMin calls off EGX stamp tax increase: The Finance Ministry will not increase the stamp tax on EGX transactions this year. The move is meant to ease the financial burden on traders, according to a ministry statement. The tax was scheduled to increase to 0.175% from 0.15% on 1 June. The ministry introduced the tax at 0.125% in 2017, and planned to increase it annually over a three-year period. We reported yesterday that EGX regulators were looking at ways to mitigate the impact of the tax hike.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2018 Enterprise Ventures LLC.