{"id":601703,"date":"2019-03-07T03:49:26","date_gmt":"2019-03-07T03:49:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/"},"modified":"2019-03-07T03:49:26","modified_gmt":"2019-03-07T03:49:26","slug":"egyptian-capital-markets-association-requests-cancellation-of-stamp-tax","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/","title":{"rendered":"Egyptian Capital Markets Association requests cancellation of stamp tax"},"content":{"rendered":"

<\/a> ECMA wants to scrap (or at least amend) the stamp tax:<\/b> The Egyptian Capital Markets Association (ECMA) has submitted a request to the Finance Ministry to cancel the stamp tax, saying the levy imposes an extra burden on stocks traders and generates unsatisfactory tax revenue, ECMA head Mohamed Maher tells Al Mal<\/a>. The association is also open to introducing amendments to the tax instead, and has presented a proposal for the potential amendments to the ministry before a scheduled increase in May.<\/p>\n

Background:<\/b> The stamp tax came into effect in 2017<\/a> with a 0.125% levy, which will rise to 0.175% this year. The levy earned the government EGP 700 mn<\/a> in revenues from main market transactions excluding OTC trades in its first year. Sources told Al Mal that the total revenues from the tax reached EGP 1.5 bn since it was instated.<\/p>\n","protected":false},"excerpt":{"rendered":"

ECMA wants to scrap (or at least amend) the stamp tax: The Egyptian Capital Markets Association (ECMA) has submitted a request to the Finance Ministry to cancel the stamp tax, saying the levy imposes an extra burden on stocks traders and generates unsatisfactory tax revenue, ECMA head Mohamed Maher tells Al Mal. The association is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601703","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"b0813188-7916-4011-a235-1066a2455fcf","is_powered_by":true,"section_story_id":"a7cc717b-5ea8-45ed-a29b-0e0a654ffc0b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601688],"teaser":"","voice_url":""},"yoast_head":"\nEgyptian Capital Markets Association requests cancellation of stamp tax - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian Capital Markets Association requests cancellation of stamp tax\" \/>\n<meta property=\"og:description\" content=\"ECMA wants to scrap (or at least amend) the stamp tax: The Egyptian Capital Markets Association (ECMA) has submitted a request to the Finance Ministry to cancel the stamp tax, saying the levy imposes an extra burden on stocks traders and generates unsatisfactory tax revenue, ECMA head Mohamed Maher tells Al Mal. The association is […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-07T03:49:26+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egyptian Capital Markets Association requests cancellation of stamp tax\",\"datePublished\":\"2019-03-07T03:49:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/\"},\"wordCount\":146,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/\",\"name\":\"Egyptian Capital Markets Association requests cancellation of stamp tax - 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The ECMA is lobbying for both Egyptian and resident foreign investors to be exempted from capital gains taxes through May 2023,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/39.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593996,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/16\/finmin-approves-plan-to-kill-capital-gains-tax-on-egx-trades-cut-stamp-tax-by-a-third\/","url_meta":{"origin":601703,"position":1},"title":"FinMin approves plan to kill capital gains tax on EGX trades, cut stamp tax by a third","author":"enterpriseam admin","date":"16 October 2019","format":false,"excerpt":"FinMin approves plan to kill capital gains tax on EGX trades, cut stamp tax by a third: The Finance Ministry has \u201cpreliminarily approved\u201d proposals to scrap plans to introduce a capital gains tax on EGX trades and to slash by as much as one third the stamp tax on EGX\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626095,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/30\/ecma-lobbies-egx-finmin-to-cut-tax-on-dividends-by-up-to-50\/","url_meta":{"origin":601703,"position":2},"title":"ECMA lobbies EGX, FinMin to cut tax on dividends by up to 50%","author":"enterpriseam admin","date":"30 August 2018","format":false,"excerpt":"Industry association lobbying to slash withholding tax on dividends: The Egyptian Capital Markets Association (ECMA) is lobbying the EGX and Finance Ministry to cut withholding tax on dividends by up to 50%, ECMA head Mohamed Maher tells Al Mal. As matters stand today, dividends paid by listed and privately held\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595366,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/govt-committee-close-to-finalizing-incentives-package-for-new-listings-on-egypts-bourse\/","url_meta":{"origin":601703,"position":3},"title":"Gov\u2019t committee close to finalizing incentives package for new listings on Egypt\u2019s bourse","author":"enterpriseam admin","date":"24 September 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t committee close to finalizing package of incentives for new EGX listings: A government committee has been working to put the final touches on a package of proposed incentives to stimulate IPO activity in the market and attract more foreign investment into Egyptian equities, the Finance Ministry told Enterprise\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627603,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/06\/slowly-slowly-policymakers-look-for-ways-to-impose-capital-gains-tax-on-stock-market-transactions\/","url_meta":{"origin":601703,"position":4},"title":"Slowly, slowly, policymakers look for ways to impose capital gains tax on stock market transactions","author":"enterpriseam admin","date":"6 June 2018","format":false,"excerpt":"Someday, somehow, EGX trades could be subject to the capital gains tax: The Tax Authority is mulling the formation of a committee to look into how it could impost the long-deferred capital gains tax on stock market transactions, a government source tells Enterprise. 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