CAIRO, March 20 (Reuters) - Egypt's new stamp duty on stock exchange transactions will come into effect in May and include for the first time a 0.3 percent levy for investors acquiring more than a third of a company's stocks, deputy finance minister Amr al-Munayer said.
The finance ministry is targeting revenues of 1-1.5 billion Egyptian pounds ($54.8 million-$82.2 million) in the first year of the new tax, he told Reuters. The duty will also be applied to purchases of treasury bills and bonds, he said.
($1 = 18.25 Egyptian pounds)
(Reporting by Ehab Farouk; Writing by Lin Noueihed; Editing by Dominic Evans) ((lin.noueihed@thomsonreuters.com; +202 2 394 8039; Reuters Messaging: lin.noueihed.thomsonreuters.com@reuters.net))
The finance ministry is targeting revenues of 1-1.5 billion Egyptian pounds ($54.8 million-$82.2 million) in the first year of the new tax, he told Reuters. The duty will also be applied to purchases of treasury bills and bonds, he said.
($1 = 18.25 Egyptian pounds)
(Reporting by Ehab Farouk; Writing by Lin Noueihed; Editing by Dominic Evans) ((lin.noueihed@thomsonreuters.com; +202 2 394 8039; Reuters Messaging: lin.noueihed.thomsonreuters.com@reuters.net))
