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6 months ago
Egypt's Finance Minister says to propose stamp duty on stock market transactions
March 1, 2017 / 7:10 PM / 6 months ago

Egypt's Finance Minister says to propose stamp duty on stock market transactions

CAIRO, March 1 (Reuters) - Egyptian Finance Minister Amr al-Garhy will propose a stamp duty on stock market transactions on buyers and sellers starting at 1.25 Egyptian pounds ($0.0774) per 1,000 to the government next week, he told Reuters on Wednesday.

The tax would go up to 1.5 pounds per 1,000 in the second year of its implementation and 1.75 pounds in its third.

"We will propose next week to the cabinet that the stamp duty comes in steps," Garhy told Reuters.

$1 = 16.1500 Egyptian pounds Reporting by Ehab Farouk; Writing by Ahmed Aboulenein

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