The Egyptian parliament has approved a bill on its Value-Added Tax (VAT), a move which has triggered an increase in cigarette prices. The new law which aims at regulating and boosting the revenue generated internally on tobacco also seeks to curb the use of the product. It will generate at least 9 billion ($580.3 million) for the fiscal year 2019/2020 from the previous year. For instance, a pack of Marlboro has been raised from 38 Egyptian Pounds to 40 Pounds, while Cleopatra cigarette, a common smoke for low-income Egyptians, rose to 18 Egyptian pounds (i.e. Its states that the economic cost of smoking in Egypt amounts to 18,324 million Egyptian pounds per year.

Source: The North Africa Journal February 26, 2020 13:18 UTC