Cairo – Mubasher: Philip Morris Egypt has announced the new prices of its products to range between EGP 27 and EGP 34 after the value-added tax on cigarettes increased.

The prices of Marlboro and Merit will be raised to EGP 34, while the price of LM will rise to EGP 27, the tobacco company revealed in a statement.

The new prices have been set starting from 24 November 2017, the company continued.

Philip Morris stressed that this increase in prices will not affect its production in Egypt, as well as the distribution of its products to retailers.

Egypt’s finance minister had previously said that imposing VAT on tobacco will boost total tax allocation for fiscal year 2017/2018 by EGP 4 billion.