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Egypt’s foreign trade tax revenues hit EGP 35.5bn in 11M

Egypt’s foreign trade tax revenues hit EGP 35.5bn in 11M
Tax revenues accounted for 80.2% of Egypt’s total revenues

By: Islam Fadl 

Cairo – Mubasher: Egypt’s revenues from taxes on foreign trade increased by 16.7% year-on-year during the first 11 months of fiscal year 2018/2019, data released by the Ministry of Finance showed.

Revenues from taxes levied on foreign trade totalled EGP 35.516 billion from July 2018 to last May, compared to EGP 30.421 billion in the year-ago period.

The Egyptian government aims to raise taxes on foreign trade to EGP 45.328 billion in FY18/19.

During the 11-month period ended 31 May, the most populous Arab nation’s total tax revenues grew to EGP 613.38 billion from EGP 519.49 billion in the prior-year period.

Tax revenues accounted for 80.2% of Egypt’s total revenues which reached EGP 764.6 billion from July 2018 to last May, compared to EGP 639.1 billion in the same period a year ago.