Last Update 11:47
Wednesday, 16 October 2019

Egypt aims to raise tobacco tax revenues by $397.50 million in 2017-18

Reuters , Monday 2 Oct 2017
A cigarette in a file photo (Photo: Reuters)
Views: 2887
Views: 2887

Egypt aims to raise its revenues from taxes imposed on tobacco by EGP 7 billion ($397.50 million) in the 2017-18 fiscal year which ends in July 2018, a government document said.

The country is targeting around EGP 54.545 billion ($3.10 billion) in revenues from tobacco taxes, according to a document released by the finance ministry on Monday.

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 boosting the economy.

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.


Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.