Egypt’s Finance Ministry Mulls Cigarettes Tax Increase To 5%

Egypt’s ministry of finance is considering to raise the indirect taxes imposed on the cigarettes by 5% starting from next January. Accordingly, the total taxes on cigarettes would be 70% instead of 65%.

Customs Authority official source said there are a new sets of proposals submitted to the minister of finance regarding increasing the taxes on cigarettes. Taxes imposed on cigarettes can be referred as; direct such as the corporate gains tax which could reach 25% and indirect includes 10% of sales tax, quantitative taxes on manufacturing and packaging alongside tax imposed by ministry of health.