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27-Nov-2017

Government reportedly considering imposing fees on number of producers to help finance Universal Healthcare Insurance bill

According to Enterprise, citing Article No. 40 of the law, the Universal Healthcare Law is also expected to charge a tithe for every tonne of cement and steel sold, in addition to a tax for every sqm of porcelain, marble and granite sold. Cement companies are expected to pay EGP20 for every tonne, while steel manufacturers may see a EGP50 tax imposed on every tonne sold. Producers of porcelain, marble and granite can expect to pay EGP5 for every sqm sold. Government sources had noted earlier in the month that tax producers were also expected to face extra government fees as a source of financing for the bill. Al Borsa reports that a number of producers, including the head of the metallurgy industries division of the Federation of Egyptian Industries (FEI), plan to pass the costs of the taxes straight through to the consumer. 

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