By: Ahmed Ammar

Cairo – Mubasher: Egypt’s revenue from taxes on the returns of treasury bills and bonds rose by 11.4% year-on-year during the first ten months of fiscal year 2018/2019, data released by the country’s ministry of finance (MoF) showed.

The value of taxes on T-bills and T-bonds amounted to EGP 39.5 billion from July 2018 to last April, compared to EGP 35.45 billion in the year-ago period.

Egypt’s total tax revenue stood at EGP 550.27 billion in the ten-month period ended 31 April from EGP 470.51 billion in the corresponding period a year earlier.

Tax revenue accounted for about 80% of the country’s total revenue which registered EGP 686.78 billion during the July-April period of FY18/19, compared to EGP 577.78 billion in the prior-year period.