Value-added tax receipts climbed by EGP 59.9 billion, marking an increase of 18.2%, to reach EGP 389.3 billion
Egypt’s tax revenues saw a 16.2% growth between July 2021 and May 2022, recording EGP 816 billion, compared to EGP 702 billion in the same period in the previous fiscal year (FY), revealed the Ministry of Finance in a statement.
In a report, the Ministry of Finance disclosed that tax receipts from sovereign authorities increased by about EGP 12.3 billion, or 11.8%, to reach EGP 117 billion during 11 months, compared to about EGP 104.7 billion during the same period of the previous fiscal year.
Tax receipts from non-sovereign entities increased by about EGP 102 billion, or 17%, to EGP 699 billion, compared to EGP 597.5 billion during the same period of the previous fiscal year.
Value-added tax receipts climbed by EGP 59.9 billion, marking an increase of 18.2%, to reach EGP 389.3 billion.
This was attributed to an increase in the proceeds from the value-added tax on goods by 13.6% to reach EGP 179.4 billion, and an increase in the proceeds from the value-added tax on services by 34.2% to EGP 53 billion.
