Latest in Tag: stamp tax Highlight
Latest in Tag: stamp tax
The decision will be presented to the economic ministerial group in its meeting today. The discussion is supposed to include approving incentives to stimulate the Egyptian Exchange (EGX), such as giving companies a tax deduction if they resort to offering in EGX, in order to stimulate the money market.
The parliament decided to postpone its public sessions until May 29 which may hinder approving the stamp tax law
Expected proceeds range between EGP 1bn and EGP 1.5bn in fiscal year 2017/2018
The tax is to be submitted within the current week to the cabinet for approval
The Egyptian Exchange (EGX) indexes strengthened at the end of last week, following a wave of decline on the back of the high-stamp tax proposal, before the Ministry of Finance suggested to bring the rate down to 0.125%. The EGX has been suffering over the past week, recording at midweek its lowest transactions since October …