CAIRO– Egypt’s President Abdel Fattah al-Sisi ratified a stamp duty on stock exchange transactions for both buyers and sellers at 1.25 Egyptian pounds per 1,000 for the tax’s first year, a decree published in the official gazette on Thursday showed.
Sisi also approved an extension of a freeze on capital gains tax for three years.
The country originally imposed a 10-percent tax on capital gains in July 2014 as part of efforts to replenish depleted state coffers. But its suspended the tax a year later under pressure from investors for a period of two years. Thursday’s decree extends that freeze for another three years.