Egypt increases tariff on luxury goods - leatherbiz: Leading news site Leatherbiz

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Egypt increases tariff on luxury goods

27/03/2013
Egypt imposed an increase on customs tariffs for luxury goods on March 24. The increases range from 5% to 40%, with most leathergoods in a large group of products on which the government has imposed a 20% increase.

Commenting on the decision, the Egyptian Customs Authority said essential goods would be exempt from the increase because the government did not want the new measures to have an effect on people on low incomes.

Egypt is currently engaged in talks with the International Monetary Fund (IMF) to secure a $4.8 billion loan package.



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