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Egypt increases tax on cigarette, alcohol

Egypt’s president has issued a decree increasing sales tax on cigarettes, beer and wine, the latest in a series of price hikes that aim to ease the country’s staggering budget deficit, the Associated Press has reported. The decision increases a flat tax on local and imported cigarettes to between 25 and 40 cents per pack, depending on the brand. It doubles an already existing tax on beer, from 100% to 200%, and increases the tax on local and imported wines to 150%.