Stamp tax on EGX transactions, income tax cuts are now official: The amended executive regulations for the new stamp tax on capital market transactions were published in Wednesday’s issue of the Official Gazette, AMAY said on Friday. The stamp tax — a 0.125% levy imposed on both sides of any capital market transaction that gradually rises to 0.175% by its third year — came into law in early July after President Abdel Fattah El Sisi signed it. Also in the Official Gazette this weekend were the income tax breaks approved by the House of Representatives last month. Last week, the Tax Authority had signed off on the decision, which gives employees earning under EGP 200k a year tax cuts of up to 80% and exempts those earning anything below minimum wage starting this July.

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