Cheaper than Cleopatra .. Eastern Smoke introduces a new type of cigarette
The Eastern Tobacco Company said that it will launch a new product on the Egyptian market, a pack of cigarettes for 10 pounds.
The company added, in a press statement today, Monday to the Egyptian Stock Exchange, that the product is Cleopatra Box, a package of 10 cigarettes worth 10 pounds.
She said that this comes in accordance with the company's policy to diversify its products and introduce new items in the Egyptian market, to meet and cope with the requirements of different market segments.
Last week, the Official Gazette published a decision by the Minister of Finance, on new cigarette prices, after a VAT increase.
The prices mentioned in this decision are indicative to the companies, and a final price list is agreed upon according to which the tax is calculated.
On Monday, the House of Representatives approved amendments to the government’s value-added tax law, which included an increased tax rate of 50 piasters for the first tranche, pounds for the second tranche, and 50 piasters for the third tranche.
The bill approved by Parliament included raising the price ceiling for all segments to keep pace with natural price increases, which will be produced due to the proposed tax increase
