NBE Says EGP 19.5 bln Tax and Custom Collections Q1-2013

The value of tax and custom collections of the National Bank of Egypt (NBE) reached around EGP 19.5 billion at the end of the first quarter of this year2013-2014, compared to EGP 18.3 billion in 2011-2012.

An official source in NBE has informed Amwal Al Ghad that the total Checks tax collections up EGP 18.8 billion at the end of last September, move up by 6% (EGP 1.04 billion) against EGP 17.760 billion at the end of September 2012.

The source added that the total electronic tax collections reached around EGP 507 million Q1 2013the current fiscal year, move up by 10%(EGP 46 million), compared to EGP 461 million Q1 2012.

The Egyptian Finance Ministry said the total tax collections reached about EGP 31 billion including cash receipts and electronic payments within the Q1 this year.

The source has explained that Customs collections and electronic cash attained EGP 150 million September-end , compared to EGP 128 million at the end of the Q1 of 2013.

The total customs collections of the Finance Ministry recorded about EGP 3.148 billion during the Q1 to reach 14% from the targeted  value of this year, which reached EGP 21 billion, against EGP 17 billion achieved collection in the last year.

The Cash tax receipts which conducted by NBE are about EGP 88.5 billion in June-end , whereas the total electronic tax collections hit around EGP 2.8 billion.

Total customs receipts of the NBE are about EGP 700 million  at the end of the last fiscal year 2012/2013.