The Ministry of Finance is considering increasing tax prices on cigarettes next fiscal year by a range of 50 piastres and EGP 2, within its plan to increase government revenues. Daily News Egypt learned that the ministry is seeking to increase the tax by 50 piastres on the segment of cigarettes whose prices are estimated at EGP 13, by EGP 1 on the segment where prices range from EGP 13 and EGP 23, and by EGP 2 on the price of cigarettes of the third segment, whose prices are higher than EGP 23. Informed sources announced that the ministry is considering several proposals to increase taxes on the prices of cigarettes by 50 piastres and up to EGP 2, according to the prices of segments. Sources added that one of the proposals currently being considered is the expansion of segment prices after approving the increase decision. The decision must be issued with the decision to increase cigarettes prices,” Imbaby said.

Source: Daily News Egypt June 11, 2017 11:48 UTC