A file photo of Egypt's President Abdel Fattah El-Sisi (Photo: Egyptian Presidency)
Egyptian President Abdel Fattah El Sisi ratified a law amending some provisions of the Value-Added Tax (VAT) law, the official gazetta read on Tuesday.
According to the new amendments, the VAT on all tobacco products and cigarettes shall surge at different rates.
The ratification comes one day after the Parliament approved new amendments to the law.
The new amendment aims to bring "electronic cigarettes" under the VAT law.
An explanatory note said the state's 2019/20 budget aims to boost revenues from taxes on smoking material by EGP 8.9 million.
According to the amendments, the tax increase on cigarettes products in the domestic market will increase by 50 piasters, and up to 100 piasters for imported cigarettes, with a 15 percent increase on domestic shisha products and 25 percent on imported ones.
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