Egypt to Raise Tobacco Tax Revenues by EGP 7.072 Bln in 2018-19Source: www.export-egypt.com 4/16/2018, Location: Africa |
|
|
|
|
|
Egypt aims to raise its revenues from taxes imposed on tobacco by EGP 7 billion ($395.50 million) in the 2018-19 fiscal year, which start in July 2018, a government document said.
According to a government's document, the country is targeting around EGP 58.524billion ($3.10 billion) in revenues from tobacco taxes. Egypt has been increasing taxes and cutting subsidies to narrow its budget deficit as part of economic reforms tied to a $12 billion International Monetary Fund programme aimed at reviving the economy. The Egyptian government is set to collect EGP 51.452 billion in revenues from tobacco taxes this fiscal year 2017-18. Egypt imposed a valued-added tax on non-essential goods last year in the months leading to its signing of the three-year IMF deal in November. 20.2 percent of Egyptians above the age of 15 are smokers, according to 2016 statistics of state statistics body CAPMAS. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
