Cairo – Mubasher: The Egyptian finance ministry finalised the project proposal of amending article of the laws set for both stamp duty and income tax, following the extension of a freeze on a capital gains tax for three years that will mature on 16 May 2020, according to a recent statement issued on Friday.

The proposed amendments include imposing stamp duty on purchasing and selling securities on stock exchange, starting at EGP 1.25 per 1,000 for the first year of the tax's introduction, up to EGP 1.5 and EGP 1.75 per 1,000 for the second year and the third, respectively, the statement added.

The amendments will also impose a tax of EGP 3 per 1,000 for investors buying or selling 33% or more of an Egypt-based company's stocks.

The finance ministry will introduce the project proposal to the Cabinet in the near future, the statement said.