Cairo - Mubasher: The chairman of the Egyptian Tax Authority said on Monday that they conducted a study regarding applying the stamp duty tax to the stock market trade.
The study resulted in a rate of 0.175% on both the buyer and seller, Emad Samy added, noting that with that rate, the trading activity will not be affected.
Earlier, a source in the Ministry of Finance (MoF) told Mubasher that the ministry has recommended a rate of 0.2% on capital market trade, pointing out that the tax will be imposed before delaying the capital in May, and referred to the House of Representatives for approval within the upcoming weeks.
On the other hand, the capital market associations working in the Egyptian Exchange (EGX) proposed a note to the MoF recommending that the stamp duty tax rate on the capital market should not exceed 0.1%, the same rate which the EGX suggested to the ministry.
