Egypt President Raises Cigarette Prices

Source from:  AP - Associated Press  07/07/2014

Egypt's president decreed an increase in sales tax on cigarettes, beer and wine, the latest in a series of price hikes that aim to ease the country's staggering budget deficit.

The decision announced Sunday increases a flat tax on local and imported cigarettes to between 25 and 40 cents per pack, depending on the brand. It doubles an already existing tax on beer, from 100 percent to 200 percent, and increases the tax on local and imported wines to 150 percent.Enditem