The chairman of the Egyptian Public Taxes Authority said on Monday that they conducted a study regarding applying stamp tax to the stock market trade.
The study resulted in reaching the rate of 0.175% on both the buyer and seller, Emad Sami added, noting that with this rate the trading activity will not be affected.
Earlier, a source in the ministry of finance (MoF) said that the ministry has recommended a rate of 0.2% on the capital market trade, pointing that the tax duty will 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.
