ﻣﻮﻗﻊ ﺻﺪﻱ اﻟﺒﻠﺪ

Supervisor
Elham AbolFateh

Business

Egypt’s tax revenues rise by 61% in H1 of 201718 FY

Wednesday 14/February/2018 - 03:36 PM
Sada El Balad
Hassanein Tayea
Total tax revenues rose by 61% during the first half ofthe current 201718 fiscal year، Deputy Finance Minister Mohamed Mait said in a press conference Wednesday.
He added that the tax revenues increased to EGP 248.8 billion، compared to EGP 154 billion last year.

Egypt's tax revenues for the first quarter of 201718 rose by 55 per cent y-o-y to EGP 88.6 billion، the Finance Ministry announced in October.

The ministry said Sunday that the Tax Dispute Law succeeded to add LE 15.6 billion ($ 881.47 million) to the Egyptian treasury through 19 committees for ending tax disputes whether in income taxes or sales taxes.

In November 2017، Minister of Finance Amr el-Garhy announced the Cabinet's approval to extend the implementation of the law on settling tax disputes for two more years.

The Tax Dispute Law is specialized in income tax، real estate tax and value added tax (VAT).


Egypt wants to achieve EGP 603 billion in tax revenues in fiscal year 201718، which represent around 40 percent of the state’s total revenues. Non-tax revenues in the budget are expected to stand at EGP 229.5 billion.

Comments

ads

Poll

What do you think about our new design?

What do you think about our new design?
ads