Egypt’s parliament – the House of Representatives – approved on Sunday a government-drafted amendment to the 2016 VAT law to impose a tax of EGP 0.50 on tobacco products sold on the local market.
Fakhri El-Fiqi, head of the House’s Planning and Budget Committee, told MPs that the new tax will be imposed on hot tobacco (cigarettes) and liquid tobacco (vape) to help companies put the right price for their products, achieve profits, and stabilize the cigarette market which has seen a lot of chaos in recent months.
Source: www.sis.gov.eg
