Egypt’s president approves bill raising taxes on cigarettes

Egypt’s President Abdel Fattah al-Sisi ratified on Thursday amendments to the Value Added Tax (VAT) law that raise taxes on cigarettes and other tobacco products.

The amendment to Law 67/2016 was approved by parliament on Tuesday.

Egyptian cigarette manufacturer Eastern Tobacco Company announced Thursday evening that cigarettes will be sold at the increased prices effective immediately.

The company said that cigarette prices have been increased between 12.5 percent and 21.7 percent or by 2 Egyptian pounds to 3.5 pounds per pack.

Source: Ahram online