MOF Got EGP 2.1 bln of Tax Arrears Last May

Egyptian Tax Authority was able to collect, at the end of May, EGP 2.1 billion tax arrears due to the state by the top financiers.

In exclusive statements to “Amwal Al Ghad”, Mohamed Tarek- chairman of Top Tax Financiers Center- said it was collected EGP 1.25 billion during implementing the first disbursement of “stimulus bill tax”, by the end of last March, as well as collecting EGP 800 million after examination process with the top financiers.

He added that it has collected EGP 50 million since the start of implementing the second disbursement of the law which refer to tax exemption reaches 15%for those who will pay till the end of June.

Tarek expected the increase of the tax arrears income by the end of June; mentioning that the reason of delaying the payment goes back to the financiers who keep the liquidity to make use of till the end of the period of implementing the bill’s second disbursement.