Cairo - Mubasher: The Egyptian Tax Authority (ETA) said it succeeded in reaching settlement agreements regards 27 tax dispute cases, which amounts to EGP 48 million.
ETA collected EGP 270 billion in tax revenues in the fiscal year 2014/15, that is assorted between revenues from sales taxes amounted to EGP 105 billion and revenues from income taxes reaching EGP 165 billion.
In 2014, the government introduced a temporary five% income tax hike to raise the tax rate for individuals and corporations earning more than EGP 1 million annually to 30% for the following three years, in an effort to tackle the country's growing budget deficit.
