Egypt: Beer taxes increased by 200%

Egypt has increased taxes on beer by 200%. President of Egypt Mohamed Morsi had approved the hike on 9 December, DBR reported earlier this week.

In addition to increased beer taxes, the President has also approved tax hikes on alcohol, cigarette and soda.

The increased taxes, included in Law No. 102 for the year 2012, have amended some provisions of the General Tax Law No. 11 for the year 1991.

Research Center of Sadat Academy economic head Ehab al-Desouki was quoted by Xiinhua as saying that the amendments are part of the government commitment to the reform program agreed upon with the International Monetary Fund to get a loan of $4.8 bln.

“The decision is right but the timing is wrong,” al-Desouki added.

12 December, 2012