Egypt FinMin says no intention to raise stock exchange duty

Egypt’s Finance Minister Mohamed Maait denied on Monday rumours about planned increases in stamp tax on stock exchange transactions.

Egypt is not planning to raise taxes for the current period as “we are aiming at tax and customs stability,” Maait said at a business conference in Cairo.

Egypt introduced in June 2017 a stamp duty of 1.25 Egyptian pounds ($0.076) per 1,000 pounds and later increased it to 1.50 pounds in 2018.