December 13, 2021
Monday, December 13, 2021
Books – Dina Khaled:
Ashraf Helal, head of the Home Appliances Division at the Cairo Chamber of Commerce, expects prices for durable household appliances to rise 2-5%, after imposing development costs.
Today, Monday, the Parliament’s Planning and Budget Committee approved the Prime Minister’s decision to draft a law amending certain provisions of the Stamp Law Law promulgated by Law No. 111 of 1980 and Law No. ° 147 of 1984.
The new amendments included the imposition of a royalty for the development of state financial resources at about 2% of the value of the end product of all kinds of durable goods.
Ashraf Hilal told Masrawy that any increase in the price of any product increases its final price.
He added that the text of the proposed law did not clarify the implementation mechanism. If a rate of 2% is imposed on the price of the original product, the increase will be the same percentage, but if development costs are imposed after adding customs and value added tax, the increase may reach about 5%.
Helal said the shipping, customs and taxes have become around 60% of the value of the goods.
He pointed out that despite the high prices, the market is suffering from a severe recession.