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Thursday, 1 August 2019

El Sisi ratifies law keeping stamp tax on Egypt’s stock transactions unchanged

President Abdel Fattah El Sisi has signed into law a recently-passed bill keeping the provisional stamp tax on EGX transactions unchanged at 0.15%, according to the Official Gazette (pdf). The House of Representatives gave its final nod to the bill last month. The tax was scheduled to increase to 0.175% on 1 June as part of a plan to hike it annually over a three-year period, but the Finance Ministry called off the increase in a move designed to ease the financial burden on traders.

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