Head of the Tobacco Division of the Federation of Egyptian Industries Ibrahim Embaby said that the Egyptian market will soon witness increases in cigarette prices.
Embabi added, in statements to Al-Sharq, that the new increases come after the recent amendments that were approved to the value-added tax (VAT) law, which allow companies to increase prices.
The Egyptian Tax Authority allowed cigarette companies to increase the maximum price limit for all price segments of cigarettes by 12%, as it is permitted to increase the maximum price limit for the lowest segment of local cigarettes by 3.7 pounds to 34.72 pounds, and the average price by 5.4 pounds to 50.4 pounds.
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