Tax revenues hit 55.9bn Egyptian pounds in two months of FY2017/18

Egyptian Tax Authority has collected 55.9 billion Egyptian pounds in revenues during the first two months of financial year 2017/2018 up from 37.9 billion pounds during in the same period of financial year 2016/2017, a state statistics report said.

Income and capital gains tax revenues amounted to 13.2 billion pounds in July and August, compared with 9.9 billion pounds during the same two months in 2016, the county’s state-owned statics agency CAPMAS said in its November bulletin.

Taxes on properties reached 6 billion pounds, while revenues from products and services tax amounted to 32.1 billion pounds.

Tax revenues in financial year 2016/2017, which ended on June 30, increased by 34.1 percent year-on-year to record  659 billion pounds, compared to 491.5 billion pounds in the previous financial year. Source: Egypt today