Cairo – Mubasher: Egypt’s proceeds from the value-added tax (VAT) rose by 18.6% year-on-year during the first nine months of fiscal year 2018/2019, according to a report released by the Ministry of Finance (MoF).
Revenues from VAT on goods and services amounted to EGP 247.5 billion from July 2018 to last March, compared to EGP 208.7 billion in the year-ago period, the report revealed.
Year-on-year, general taxes on sales stood at EGP 111.14 billion in the nine-month period ended 31 March from EGP 95.72 billion.
Meanwhile, revenues from taxes on local goods registered EGP 34.7 billion, while revenues from taxes on imported goods reached EGP 76.43 billion by the end of March.
Revenues from taxes on services rose to EGP 27.67 billion in the July-March period of FY18/19, compared to EGP 21.81 billion in the same period of FY17/18.
Egypt's tax revenues totalled EGP 468.4 billion in the nine-month period ended 31 March from EGP 403.2 billion in the year-ago period.
