Reuters logo
Egypt to introduce stamp duty in May, targets 1-1.5 bln pounds in revenues
March 20, 2017 / 9:27 AM / 8 months ago

Egypt to introduce stamp duty in May, targets 1-1.5 bln pounds in revenues

CAIRO, March 20 (Reuters) - Egypt’s new stamp duty on stock exchange transactions will come into effect in May and include for the first time a 0.3 percent levy for investors acquiring more than a third of a company’s stocks, deputy finance minister Amr al-Munayer said.

The finance ministry is targeting revenues of 1-1.5 billion Egyptian pounds ($54.8 million-$82.2 million) in the first year of the new tax, he told Reuters. The duty will also be applied to purchases of treasury bills and bonds, he said. ($1 = 18.25 Egyptian pounds) (Reporting by Ehab Farouk; Writing by Lin Noueihed; Editing by Dominic Evans)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below