Egypt Bourse Stamp Tax Awaits New FinMin’s Approval – Official

The expectant stamp tax law on Egypt bourse’s daily transactions still awaits the approval of the country’s newly-appointed finance  minister Fayad Abdel Moneim so as to come into effect, the managing director of the Egyptian Central Clearing, Depository and Registry house (MCDR).

Dr.Tarek Abdel Bary – managing director at MCDR – told Amwal Al Ghad that the application of the stamp tax on the Egyptian stock market does not require making any amendments on the settlement mechanisms, but it just needs the finance minister’s ratification.

As pursuant to the recently-approved draft, the stamp tax shall be imposed on the EGX’s daily selling and buying transactions at 0.001.