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Egypt Hikes Import Tariffs

by Lorys Charalambous, Tax-News.com, Cyprus

20 December 2016


Egypt has increased import taxes on more than 300 items in to encourage domestic production and export growth.

The tax increases affect 320 "luxury" goods ranging from foodstuffs to cosmetics, white goods, and consumer electronics. Many of the imported goods targeted by the tariff hikes are also produced domestically.

The tariff increases range from 40 percent to 60 percent and are expected to raise an additional EGP6bn (USD311m) in tax revenue annually.

It is the second time this year that the Egyptian Government has raised import taxes.

TAGS: tax | tariffs | food | Egypt | import duty | trade

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