Egypt sets prices for local and imported cigarettes

Sunday 02-02-2014 08:03 PM
Egypt sets prices for local and imported cigarettes

Cigarettes displayed in a shop - File photo from Reuters


CAIRO, Feb 2 (Aswat Masriya) Egypt's Finance Minister issued a new decision on Sunday on that set the selling prices of domestic and imported cigarettes, which is usually set according to the general sales tax.

Minister Ahmed Galal warned distributors from tax evasion charges if they sell cigarettes at a higher price than the one listed in the cabinet decision.

Prices of cigarettes have rose unofficially during bloody confrontations between supporters of deposed Islamist President Mohamed Mursi and security forces since mid-August.

Egypt announced in December 2012 plans to increase cigarette taxes but suspended the increase a few hours after the announcement, which had a negative impact on the country's negotiations with the International Monetary Fund on a $4.8 billion loan.

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