Egypt raises the prices of tobacco cigarettes of all kinds

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Source: Cairo – Reuters

On Monday, the Egyptian parliament approved a new increase in cigarette prices, as part of reforms aimed at controlling the state budget.

According to the amendments approved by the Council on Monday, the new cigarette tax is 50% of the final consumer’s selling price in addition to between four and seven pounds (0.26-0.45 dollars) depending on the package’s selling price.

A report from the House of Representatives says that the amendments will contribute to increasing the proceeds of tobacco taxes by nearly 9 billion pounds in the current fiscal year 2019-2020.

Immediately after the ratification of the law, the Egyptian Tax Authority issued an updated list of prices of cigarette and tobacco products.

The amendments stipulate an increase in the fixed schedule tax on cigarette products in the local market between 50 and 100 piasters, while raising the price ceiling for all segments in line with the price increases that will result from the tax increase.

With regard to heated tobacco products, the tax will be 1400 pounds on the net kilogram of tobacco, and two pounds per milliliter of liquid used in electronic cigarettes. This is the first time that taxes have been imposed on electronic cigarettes in Egypt.







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