Egypt plans to increase sales taxes on six goods to raise state revenues by around EGP13bn (roughly $2bn), in a bid to curb the budget deficit to meet International Monetary Fund (IMF) preconditions for a $4.8bn loan, Ahram has reported. Cigarettes, soft drinks, steel rebar, cement, mobile phone calls and alcoholic products will see price hikes once the country s upper house of parliament, the Shura Council, ratifies the new levies.
Source:
http://www.uaecement.com/newsDetail.aspx?id=815
