Egyptian Finance Ministry expects 0.2 pct stamp duty on market transactions by May -official

CAIRO: Egypt’s Finance Ministry is recommending the implementation of a stamp duty on stock exchange transactions of 0.2 per cent on sellers and buyers, a senior ministry official told Reuters on Thursday.

The official said he expects the stamp duty to come into effect before May and generate a revenue that ranges between 1-1.5 billion Egyptian pounds ($63-94.5 million) in 2017/18.

The government will send amendments of the income tax law, which includes the stamp duty, to parliament for final approval in March, he added. (Reuter)