Last Update 23:15
Saturday, 16 November 2019

Egypt tax revenue rises 16% from 1 Jan to 24 Feb: Tax authority

Head of Egypt's tax authority says tax revenue reached some LE120 bn from 1 January to 24 February, representing 16% rise on same period last year

Ahram Online, Monday 25 Feb 2013
Egypt tax
Chairman taxes authority Mamdouh Omar (Photo: Ahram Arabic news Website)
Share/Bookmark
Views: 1589
Share/Bookmark
Views: 1589

Egypt's tax revenue reached LE120 billion for the period from 1 January to 24 February of this year, representing a 16 percent increase on the same period last year when it amounted to LE102 billion, head of Egypt's tax authority Mamdouh Sayed Omar announced Sunday.

According to Omar, the increase showed that recent reforms of Egypt's tax collection system were successful – especially a new electronic tax payment system, implemented at the end of last year – and that the practice of tax evasion had notably decreased.

Omar also called on taxpayers to file their taxes before the deadline announced by the tax authority – 31 March for individuals and 30 April for companies – so as to avoid paying legal penalties.

In a televised interview Sunday night, Egyptian President Mohamed Morsi announced that monthly incomes of LE12,000 or less would be exempted from income taxes. Previously, the ceiling had been LE9000.

Last December, Morsi announced a raft of changes in Egypt's tax system that included sales-tax increases on several consumer goods and the modification of income tax brackets. The decision, however, was quickly postponed in order to leave time to conduct a 'social dialogue' initiative on the new measures before their implementation.

Tax revenue currently accounts for about 70 percent of Egypt's overall state revenue.

Egypt collected the equivalent of LE170 billion in taxes for the fiscal year 2011/2012.

The government had set a goal of collecting LE260 billion in taxes for the current fiscal year.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
1



Sharif Shehata
26-02-2013 12:09am
0-
1+
Tax Revenue
Mr Mamdouh Omar, You have a biggest responsibility for Egypt and Egyptians future. Most of successful countries are running by Taxes ( like UK,USA--etc)in reality you are most important man in the country. I hope Egypt found a right man for right job. I live in the west and I know how the Taxes can development Egypt and help society. All we need to be honest and to do our jobs right. God save Egypt
Email
 
Name
 
Comment's Title
 
Comment
Latest

© 2010 Ahram Online.