• Higher taxes on cigarettes? The Ministry of Finance is reportedly studying a proposal to raise the fixed tax on cigarette packs, as exclusively reported by Enterprise last Sunday. The tax increase could range between EGP1.5-2/pack. As per the current law, the fixed rate structure imposes taxes based on three brackets: (1) EGP3.5/pack for those priced less than EGP18, (2) EGP5.50/pack for those priced between EGP18-30, and (3) EGP6.50/pack for those priced above EGP30. Consolidation of the first and second tax brackets is also part of the proposal.
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