Parliament’s budget and planning committee: new amendments aim to increase the state’s revenues

According to a report by parliament’s budget and planning committee, the amendments aim to increase the state’s revenues after they took a hit with the ongoing COVID-19 pandemic, which has affected a number of Egypt’s economic sectors negatively.

The fee for departing the country will be increased to EGP 100, but it will remain at EGP 50 for foreigners visiting the Red Sea governorate, South Sinai, Luxor, Aswan, or Matrouh.

All items, including alcoholic beverages, purchased from duty free zones will see a tax increase from 2 percent to 3 percent, with a minimum value of $1.5. Non-honorary members of the diplomatic and consular corps are exempted from paying this tax.

The new amendments also impose a 5 percent tax on all soda drinks and 2 percent on durable goods.

The proposed amendments would also increase the tax on entry fees at casinos, theatres and cinemas, though the exact value has yet been determined.

Luxury goods, including certain types of fish, perfumes, and wristwatches will be subject to a 10 percent tax.

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