The recent price hikes in tobacco products by the Global and Eastern Tobacco companies have triggered strong consumer reactions. These increases are a result of the Value Added Tax Law and its amendments, as well as the Comprehensive Health Insurance System Law No. 2 of 2018.
Starting this Sunday, a new list of cigarette prices has been enforced with substantial rises across various brands. For instance, the Cleopatra Box 10 is now priced at LE24.5, while the Cleopatra King Size and Cleopatra Soft Queen are sold at LE34.5 each. Brands like Boston/Belmont, Cleopatra Box (white – colors), Cleopatra Super, Mondial (red-blue-silver), Mondial Switch (menthol-blueberry), Cleopatra Black, Matossian Super, and Viceroy/Pall Mall are now priced at 34.5 LE, and Viceroy is being sold for LE55.
These tariff adjustments stem from amendments to the Value Added Tax Law on Cigarettes and Tobacco, passed by the House of Representatives last October. These changes permit companies to raise cigarette prices by 12% annually for five years without requiring parliamentary approval for each adjustment.
The Ministry of Finance has agreed to increase the maximum tax limits for tobacco products, facilitating a maximum annual increase of 12% in alignment with the Value Added Tax Law No. 177 of 2013. The objective is to maintain financial stability in the tobacco sector and aid public health initiatives aimed at reducing tobacco consumption and advocating for healthier lifestyles.
Beyond the financial implications, elevated tobacco prices raise questions about regulating the sector, safeguarding consumer interests, and promoting public health. Authorities must balance economic needs with health concerns, ensuring that the measures adopted are fair and impactful. A comprehensive, multi-faceted approach is essential to address the challenges posed by tobacco consumption and enhance societal well-being as a whole.
For more information, you can check the article below:
– [Egypt Independent – Egypt’s cigarette prices see increase starting Sunday](https://www.egyptindependent.com/egypts-cigarette-prices-see-increase-starting-sunday/)