Last Update 0:15
Wednesday, 23 October 2019

Egypt to cancel planned rise in stock exchange duty

Ahram Online , Tuesday 7 May 2019
Egypt's stock exchange (Reuters)
Views: 3176
Views: 3176

Egypt's finance ministry has drafted a law cancelling a planned increase in a tax on stock exchange transactions, keeping it at EGP 1.5 per 1,000, the ministry said on Tuesday.

The increase to EGP 1.75 per 1,000 was due to take effect on 1 June.

The proposed changes are meant to "reduce the financial burden on stock exchange traders and support the activity of the Egyptian stock exchange," the ministry said in a statement.

The amendments will be submitted to the cabinet during its meeting on Wednesday.

Egypt introduced a stamp duty of EGP 1.25 per 1,000 in June 2017, with the current law stating that it will gradually rise to EGP 1.5 in the second year and EGP 1.75 in the third.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.