Cairo – Decypha: Egypt's cabinet has approved a stamp duty on stock exchange transactions, as well as an extension of a freeze on a capital gains tax for an additional three years starting 17^th of May 2017, reported state news agency MENA reported.

The stamp duty will be applied on stock exchange transactions for both buyers and sellers, and is set at EGP 1.25 Egyptian per 1,000 for the first year of the tax's introduction, rising to EGP 1.5 in the second year and EGP 1.75 in the third.

By Decypha News Editorial Team