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Thursday, 8 September 2016

Imported and locally-produced cigarette prices up by EGP 2-4 a pack

The Finance Ministry raised the prices of both imported and locally-produced cigarettes by EGP 2-4, by amending the sales tax on cigarettes, according to Al Borsa citing the Official Gazette. The Federation of Egyptian Industries cigarettes division head Ibrahim Embaby said the price hikes are “in the market’s best interest”, although any vendors selling at prices higher than the set prices will be penalized. A Marlboro pack costs will now cost you EGP 27, while L&Ms and Rothmans will cost EGP 19. You can expect these prices to increase once the value-added tax is enforced, as tax on cigarettes will reach to 200%, Parlamany reports.

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