Traders can expect stamp tax refunds when the House approves scrapping the recent increase: The EGX and Misr for Central Clearing, Depository and Registry will refund investors who paid the newly increased stamp tax that came into effect this month when the House of Representatives approves a bill canceling the increase, Miar Clearing chairman Awni Abdel Aziz tells Al Shorouk. The stamp tax on stock market transactions was automatically increased to 0.175% on the 1 June from 0.15%, as per current legislation. The Finance Ministry had called off the stamp tax increase on EGX transactions last month in a move designed to ease the financial burden on traders and proposed amendments to keep the rate unchanged to the parliament. The Finance Ministry introduced the tax at 0.125% in 2017, and planned to increase it annually over a three-year period.

Now we just have to wait for the House: However, the House Planning and Budget Committee has postponed a decision on the proposed amendments saying it did not have enough information to make a decision and that it required more time to collect EGX data.