Egypt’s tax revenues rise 62% in H1 of FY2017/18

Egypt’s total tax revenues surged by 62 percent to 249 billion pounds during the first half of financial year 2017/2018, deputy finance minister for tax policies Amr Al-Mounir said.

Total tax receipts increased by 41 percent to 103 billion pounds during the first half, while the value-added (VAT) revenues amounted to 121 billion pounds, making 83 percent growth rate, Al-Mounir further dded.

Moreover, property tax revenues rose by 70 percent to 1.6 billion pounds, while customs receipts went up by 44 percent to 15 billion pounds.

Given that finance minister Amr al-Garhy had previously said that tax revenues in Egypt’s general budget surged 31.8 percent during the financial year 2016/2017.

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