British American Tobacco Announces Cigarette Price Hikes on Egypt New Tax

British American Tobacco (BAT), the world’s second-largest tobacco company by sales, announced Thursday that it modified cigarettes prices in Egyptian market. This comes in the light of the Egyptian president’s decree to issue new tax on cigarettes.

Egypt increased the sales tax on cigarettes by up to 120 % on Sunday as part of a series of measures to curb the budget deficit and reform the economy.

The company added, in a release on Thursday, that modifications included the below mentioned brands:

BAT has a market-leading position in over 50 countries and operations in around 180 countries.