Tax Revenues Collected In 6 Months Hit LE80.3 Bln; Tax Authority

The Egyptian Tax Authority has collected LE80.3 billion in six months since the beginning of the second half of the fiscal year, according to authority head Mamdouh Omar.

LE51.1 billion of the total came from income taxes and LE29.2 billion is from sales taxes during the period of 1 July to 10 December, he said.

Omar added that the tax system is working efficiently and effectively in order to achieve the target revenue, and revenues increased by 19 percent in comparison with the same period during the previous fiscal year.

Omar urged workers to intensify efforts to achieve the target tax revenue, estimated at LE325 billion. He also congratulated financiers on the approaching tax returns season, which will begin on 1 January 2014 and end on 31 March for individuals and on 30 April for companies and senior financiers.

Source: Al-Masry Al-Youm