The Tax Authority suggested a 0.175% stamp tax on the buy- and sell-side of stock market transactions and submitted the proposal to the Ministry of Finance before presenting it to Cabinet for approval, Authority Chief, Emad Samy, said. The rate would not hurt the stock market, he added. The Minister, Amr Al Garhy, said that it will be imposed before May and his Deputy, Amr El Monayer, said a 0.2% rate for the stamp tax is only one scenario the Ministry is considering, not necessarily the final rate that will be in the draft legislation. Government sources had indicated earlier that the tax would yield EGP1-1.5bn in annual revenues. The Ministry has previously imposed a stamp tax of 0.1% in 2014, and it was halted afterwards following rejections from investors. (Al Borsa, Enterprise)