Egyptian President Abdel Fattah Al-Sisi is expected to ratify the stock market’s stamp duty tax in two days to come into effect starting next Thursday, a senior governmental source told Daily News Egypt on Sunday. In 2014, Egypt suspended the stamp duty and imposed a 10% tax on capital gains in July of the same year. In May 2015, Egypt then decided to halt the capital gains tax for two years following strong objections from investors. The government extended the capitals gains tax suspension in March for another three years—until 16 May 2020. The tax is part of Egypt’s commitment to the International Monetary Fund (IMF), which called to impose either a capital gains tax or a stamp duty on stock market transactions by FY 2017/18.

Source: Daily News Egypt June 04, 2017 13:52 UTC