By: Eslam Fadl
Cairo – Mubasher: Tax proceeds from the Egyptian General Petroleum Corporation (EGPC) and Suez Canal rose by 31.79% year-on-year in the first seven months of fiscal year 2018/2019, data by the Ministry of Finance (MoF) showed on Monday.
Total tax receipts from the two state-run corporations reached EGP 31.688 billion during the period from last July to January, versus EGP 24.044 billion in the same period of FY17/18, according to the ministry’s monthly bulletin.
Tax proceeds from the EGPC recorded around EGP 11.988 billion during the seven-month period, 26.94% up from EGP 9.444 billion in the corresponding period of the prior fiscal year, the MoF highlighted.
Meanwhile, tax proceeds from the Suez Canal jumped by 34.93% to EGP 19.7 billion during the July-January period of this fiscal year, versus EGP 14.6 billion in the prior-year period.
Furthermore, Egypt’s total tax revenues stood at EGP 356.85 billion during the first seven months of FY18/19, versus EGP 291.88 billion, according to data.
Translated by: Mai Ezz El-Din
