Arab Finance: The multinational tobacco company Philip Morris International has raised the prices of its products in Egypt, Al Arabiya News reported on November 13th.
The price of a pack of Merit cigarettes rose to EGP 74, while the price of an L&M pack reached EGP 50.
Meanwhile, the price of Marlboro cigarettes increased to EGP 69 per pack.
Eastern Company raised the prices of 11 popular cigarettes by 12.5% to 33% as of November 8th.
The House of Representatives recently adopted a government-drafted amendment to the value-added tax (VAT) law No.67 of 2016, under which an additional tax on local tobacco products is imposed, as per a decision published in the Official Gazette.