Cairo – Mubasher: The global ride-hailing company, Uber, has announced an increase in the prices of its services in Egypt.
Uber based its decision on many factors, among them inflation and the introduction of the value-added tax (VAT), according to a company statement.
“With inflation affecting drivers’ running costs and events like the inclusion of VAT on the service fees paid by the drivers, as now required by the Egyptian Tax Authority (ETA), a slight adjustment has been made to the recommended prices,” Uber said.
Uber set the minimum fare for UberX and UberSelect at EGP 10 and EGP 15, respectively.
The US-based company posted a loss of $1.07 billion during the third quarter of 2018, up from $891 million in Q3-17.