Cairo – Mubasher: The outcome of the stamp duty on stock exchange transactions reached EGP 3.2 billion in a year, according to government sources. The tax outcome exceeded analysts’ expectations of EGP 2.124 billion.

The 0.125% tax on the main market generated a revenue of EGP 700 million, Misr for Central Clearing, Depository and Registry's managing director Tarek Abdel Bary said.  

In June 2017, President Abdel Fattah El Sisi issued a decree to implement the stamp tax on the Egyptian Exchange's (EGX) transactions for both buyers and sellers for 3 years.

The duty has been set at EGP 1.25 for every EGP 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.

In May 2013, Egypt imposed the stamp duty tax on buying and selling transactions in its stock market, logging an outcome of EGP 350 million at the time.

The tax was suspended in July 2014, and replaced with a 10% tax on cash dividends and capital distributions.