{"id":632050,"date":"2018-02-01T04:23:50","date_gmt":"2018-02-01T04:23:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/"},"modified":"2018-02-01T04:23:50","modified_gmt":"2018-02-01T04:23:50","slug":"finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/","title":{"rendered":"Finance Minister to sign off on agreement exempting LCs from stamp tax"},"content":{"rendered":"<p><strong>Finance Minister Amr El Garhy is reportedly days aways from signing off on an agreement that would exempt banks from paying a stamp tax on letters of credit<\/strong> that are being newly-issued or are up for renewal. The Federation of Egyptian Banks (FEB), headed by CIB Chairman Hisham Ezz Al Arab, has been pushing to bring the 2016 agreement with the Tax Authority into effect, <a href=\"http:\/\/www.almalnews.com\/Story\/362858\/12\/%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D9%85%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%86%D8%AF%D9%8A%D8%A9-%D9%84%D8%A7-%D8%AA%D8%AE%D8%B6%D8%B9-%D9%84%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D8%A7%D9%84%D8%AF%D9%85%D8%BA%D8%A9\">sources close to the matter tell Al Mal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Amr El Garhy is reportedly days aways from signing off on an agreement that would exempt banks from paying a stamp tax on letters of credit that are being newly-issued or are up for renewal. The Federation of Egyptian Banks (FEB), headed by CIB Chairman Hisham Ezz Al Arab, has been pushing to [&hellip;]<\/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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-632050","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ca54bfed-906e-47a9-9370-463267156400","order":"0","is_powered_by":true,"section_story_id":"ff98ed84-a714-4ce4-8b37-26312fd3418a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[632043],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Finance Minister to sign off on agreement exempting LCs from 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\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Minister to sign off on agreement exempting LCs from stamp tax\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Amr El Garhy is reportedly days aways from signing off on an agreement that would exempt banks from paying a stamp tax on letters of credit that are being newly-issued or are up for renewal. The Federation of Egyptian Banks (FEB), headed by CIB Chairman Hisham Ezz Al Arab, has been pushing to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-01T04:23:50+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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Finance Minister to sign off on agreement exempting LCs from stamp tax\",\"datePublished\":\"2018-02-01T04:23:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/\"},\"wordCount\":84,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/01\/finance-minister-to-sign-off-on-agreement-exempting-lcs-from-stamp-tax\/\",\"name\":\"Finance Minister to sign off on agreement exempting LCs from stamp tax - 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A new agreement to set the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":623319,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/govt-signs-agreement-with-banking-sector-to-settle-tax-disputes\/","url_meta":{"origin":632050,"position":1},"title":"Gov\u2019t signs agreement with banking sector to settle tax disputes","author":"enterpriseam admin","date":"28 October 2018","format":false,"excerpt":"Gov\u2019t signs agreement with banking sector to settle tax disputes: The government signed three agreements with the Federation of Egyptian Banks (FEB) that put to bed outstanding tax and taxation policy disputes going back years, according to AMAY. The first agreement sets out a new compromise framework, which will serve\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":650479,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/26\/finance-ministry-drafts-amendments-to-stamp-and-income-tax-laws-to-incorporate-new-stamp-tax-proposal\/","url_meta":{"origin":632050,"position":2},"title":"Finance Ministry drafts amendments to stamp and income tax laws to incorporate new stamp tax proposal","author":"enterpriseam admin","date":"26 March 2017","format":false,"excerpt":"The stamp tax is becoming official: The Finance Ministry has finished drafting amendments to the Income Tax Law to incorporate the stamp tax on EGX transactions okayed by the Ismail cabinet last week, Al Borsa reports. The amendments will impose a 0.125% levy, that will gradually increase to 0.175% over\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":571638,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/19\/house-gives-preliminary-nod-to-stamp-tax-amendments-looks-set-to-give-tax-break-to-state-owned-enterprises-suspends-agriculture-land-tax\/","url_meta":{"origin":632050,"position":3},"title":"House gives preliminary nod to stamp tax amendments, looks set to give tax break to state-owned enterprises, suspends agriculture land tax","author":"enterpriseam admin","date":"19 May 2020","format":false,"excerpt":"LEGISLATION WATCH- House gives preliminary nod to stamp tax amendments, looks set to give tax break to state-owned enterprises, suspends agriculture land tax: The House of Representatives\u2019 general assembly yesterday gave preliminary approval to government proposals to cut stamp tax on EGX transactions and withholding tax on dividends, Al Mal\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/202.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600194,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/22\/finmin-wants-to-impose-stamp-tax-on-social-media-ads-of-up-to-20\/","url_meta":{"origin":632050,"position":4},"title":"FinMin wants to impose stamp tax on social media ads of up to 20%","author":"enterpriseam admin","date":"22 January 2019","format":false,"excerpt":"EXCLUSIVE- FinMin could impose stamp tax of up to 20% on social media ads: The Finance Ministry appears set to impose a stamp tax on social media and internet search ads and has completed drafting legislation to that effect, a senior ministry source told Enterprise. Companies running ads on social\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/1\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594874,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/10\/maait-denies-egypt-is-planning-to-raise-stamp-tax-rates\/","url_meta":{"origin":632050,"position":5},"title":"Maait denies Egypt is planning to raise stamp tax rates","author":"enterpriseam admin","date":"10 September 2019","format":false,"excerpt":"The Finance Ministry is not planning to raise stamp tax rates, Maait said at the Euromoney conference yesterday, according to Al Mal. 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