The Egyptian parliament approved on Sunday new tax and fee hikes on a number of imported goods and entertainment activities to boost government revenues amid strained public finance.
The parliament approved amendments to three laws that will impose an additional one-percent stamp tax on life insurance premiums, two percent on physical injury insurance premiums, and 11 percent on land, river, maritime, and air transport insurance premiums, the state-run Ahram Online news website reported.
An additional three-percent tax will also be imposed on all goods purchased from duty-free shops that exceed 5 U.S. dollars, with a minimum tax of 1.5 dollars.— Xinhua
