Arab Finance: The Egyptian House of Representatives has approved in principle a new package of tax and fee hikes, including stamp, departure, and entertainment activities taxes, Ahram Online reported on May 28^th.

The Plan and Budget Committee of the Egyptian House of Representatives endorsed on May 24^th raising the stamp tax levied on life insurance premiums to 1%.

The committee has endorsed a tax of 5-20% on entering theatres, opera, circus events, parks, clubs, sports events, and other entertainment places.

Moreover, a tax of 3% shall be levied on goods purchased at a price of more than $5 from duty-free shops, 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.

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