Egypt is considering temporarily reintroducing a stamp duty on stock market transactions after the tax was frozen in 2014, two finance ministry sources told Reuters on Thursday. The agreement revealed that Egypt had committed to imposing either a capital gains tax or a stamp duty on stock market transactions by the 2017/18 fiscal year. Together, the moves unleashed a deluge of investment in the Egyptian stock market, which has hit record highs in recent weeks. The blue-chip index tumbled 3.4 percent by early Thursday afternoon after Reuters reported the stamp duty on stock market transactions may be restored. We are now looking at the volumes and values of stock market transactions to make it fair," another source said.

Source: Egypt Independent January 19, 2017 12:47 UTC