Parliament gives final nod to new package of tax, fee hikes
Updated 5/30/2023 8:06:00 AM
Arab Finance: The House of Representatives gave final approval to a new package of tax and fee hikes, including stamp, departure, and entertainment activities taxes, Al-Ahram Gate reported on May 29th.
Accordingly, the stamp tax levied on life insurance premiums will be raised to 1%.
Moreover, a tax of 5-20% will be imposed on entering theatres, opera, parks, sport clubs, circus events, and other entertainment places.
Also, a tax of 3% shall be levied on goods purchased from free zone markets, while a 10% fee will be imposed on purchases of alcoholic drinks of more than one liter.
Luxury imports, including salmon, shrimp, caviar, chocolate, electric shavers, headphones, watches, and some kinds of toys, as well as blue cheese, hair dryers, and roasted coffee beans, will be charged 10% of their customs duties.
In addition, departure fees for Egyptians only will be doubled to EGP 100 from EGP 50, as foreigners will not be affected by this decision so the tourism in the country would not be impacted.
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