News

Egypt Hikes Sales Taxes on Cigarettes

Egypt Hikes Sales Taxes on Cigarettes

cigarette

Egypt’s finance ministry has decided to raise the prices of imported and locally-produced cigarettes by EGP 2-4, depending on the brand, Al-Borsa reported.

The decision comes as an amendment to the sales tax and will see packs of Marlboro, Kent, Merit, Dunhill and Davidoff being sold for EGP 27 each, while L&M, Rothmans, Winston and Lucky Strike will be priced at EGP 19. Meanwhile, the price of a box of Next cigarettes has been set at EGP 17, Cleopatra Black Label will be sold for EGP 16 and other Cleopatra cigarettes will be sold for EGP 12 each.

The ministry also decided that vendors who sell cigarettes for more than the set prices will be penalized for tax evasion, in accordance with clause 9-D of Article 47 of the tax law.

Ibrahim Embaby, the head of the cigarettes division at the Federation of Egyptian Industries, said that the decision to hike the sales taxes on cigarettes is in the “best interest of the market as a whole.”

According to Parlmany, these prices will increase further once the recently-approved value-added tax (VAT) is implemented.

Sales taxes on cigarettes have been increased numerous times during the past several years. In February 2015, a 50 percent increase was implemented by national decree to boost the state revenue paralleled with a cut back in public spending in order to curb the budget shortfall which reached 12.8 percent of GDP in the fiscal year ended in June 2014.

Cigarettes are highly prevalent in Egypt, with 19 billion cigarettes smoked annually in the country. The country has been ranked as one of the top ten most consumers of tobacco per capita, according to the World Lung Foundation.

The WHO, meanwhile reports that at least 30 percent of Egypt’s population, or 27 million Egyptians, smoke cigarettes.

Egypt Requires Approval from Antiquities, Culture Ministries for Building, Renovating Statues
Al-Ahram to Revive 'Ahram Open' International Squash Tournament at Egypt's Pyramids

Subscribe to our newsletter


News

More in News

1073779_big-lnd

Egypt’s Essam El-Hadary Makes African Cup History

Egyptian StreetsJanuary 18, 2017
pol

Eight Policemen Killed in Attack in Egypt’s New Valley

Egyptian StreetsJanuary 17, 2017
Tiran Island

Egypt High Court Declares Void Transfer of Tiran and Sanafir to Saudi Arabia

Egyptian StreetsJanuary 16, 2017
Top-best-hd-wallpapers-dubai-skyline-hd-wallpapers-imagen-by-balamuda

Egyptians Invest EGP 13 Billion in Dubai Real Estate in 2016

Egyptian StreetsJanuary 15, 2017
A pharmacist searches for medicine at a pharmacy in Cairo, Egypt, November 17, 2016. REUTERS/Mohamed Abd El Ghany

Medicine Prices in Egypt Increased by up to 20%

Egyptian StreetsJanuary 13, 2017
Navy officers appear to be handing out water bottles to a group of refugees who were prevented from illegally migrating in September 2015. Credit: Military Spokesman

Egypt Prevents 12,192 from Illegally Migrating in 2016

Egyptian StreetsJanuary 12, 2017
Photograph released by the Ministry of Antiquities

3,500-Year-Old Ancient Egyptian Tombs Unearthed in Aswan

Egyptian StreetsJanuary 12, 2017
egypt-taba-beach-movenpick-resort

Egypt Introduces New Security Measures for Everyone Travelling to South Sinai

Egyptian StreetsJanuary 12, 2017
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.