Government to meet with brokerage houses next week to discuss stamp tax
Minister of Investment and International Cooperation, Sahar Nasr, is due to meet with the brokerage houses next week to discuss a plan to impose stamp tax on stock market transactions based on a request from the securities division at the Capital Market. The Tax Authority has suggested a rate of 0.175% on both the buy and sell side of each transaction, while the Ministry of Finance has earlier suggested 0.2% rate. The securities division has suggested a proposal calling for a rate of 0.01% on all financial instruments, including treasury bills and bonds, equity and over-the-counter transactions, and a rate of 0.03% on IPOs and acquisitions.
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