The Cabinet approved the gradual imposition of the stamp tax on trading in the Egyptian Exchange (EGX) over three phases. The stamp tax is levied on both the buyer and the seller of shares in the EGX, not only on profits as in the case of the capital gains tax. The stamp tax will also be applicable on acquisitions that exceed 33% of companies’ shares. Deputy head of the Egyptian Capital Market Association, Mohamed Maher, said that 0.125% is acceptable. Egypt had imposed a stamp tax on sellers and buyers on the stock-market transactions in May 2013.

Source: Daily News Egypt March 22, 2017 15:22 UTC