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.