President Abdel Fattah al-Sisi raised tax on cigarettes by 50 per cent and alcoholic beverages by up to 200 per cent, a measure his predecessor Mohammed Morsi was forced to roll back, the Daily News of Egypt said.
Although the percentage increase on cigarette tax is steep, the English-language newspaper said the impact will be to raise the price of a pack of cigarettes by EGP 1.75 (EUR 0.18) to 2.75, depending on the price of packs that currently range in price from EGP 9 to 15. The increase will apply to domestic and imported cigarettes.
Tax on beer will be increased by 200 per cent with the minimum set at EGP 400 per hectolitre, and on other alcoholic beverages by 150 per cent or a minimum EGP 15 per litre, the Daily News said.
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