Cairo – Mubasher: Egypt plans to raise revenues from the tax imposed on tobacco by EGP 7.072 billion ($395 million) in fiscal year 2018/2019, a government document showed.
The North African nation aims to collect around EGP 58.524 billion in revenues from tobacco tax in the coming fiscal year, the document added.
The Egyptian government forecast achieving tobacco tax revenues of EGP 51.452 billion in the current fiscal year.
Egypt’s finance minister Amr El-Garhy had previously said that imposing the value-added tax (VAT) on tobacco would boost total tax revenues for FY17/18 by EGP 4 billion.
