Cairo – Mubasher: Egypt’s tax revenues rose in the first half of the current fiscal year (2016/2017) by 12% year-on-year, according to the finance ministry’s monthly report.
Total tax revenues reached EGP 154.5 billion in the six months which ended on 31 December 2016, compared to EGP 137.9 billion in the same period of the previous year.
Total income tax increased 8.5% y-o-y to EGP 49.6 billion in H1-16/17, while revenues from the value-added tax grew 14% y-o-y to EGP 73.9 billion.
Egypt’s government eyes EGP 433.3 billion tax revenues in FY15/16, up from EGP 352 billion a year earlier.
