Tax yields hit LE 660B during 2018/19

CAIRO - 29 July 2019: Egypt's total tax yield for the fiscal year 2018/2019 recorded LE 660 billion, compared to LE 566 billion in 2017/2018, according Ministry of Finance.

Finance Ministry pointed out that the growth rate of tax amounted to 17 percent.
It added at the press conference held to announce the tax outcome for the fiscal year 2018/2019 that the tax revenues from non-sovereigns amounted to LE 517 billion, indicating that it exceeded the target by hitting 101 percent.

Tax revenues from the sovereigns reached LE 142 billion, compared to LE 152 billion last year, it noted, adding that yields of the Tax Authority rose to 9.9 percent during last fiscal year, compared to 9.3 percent in the prior year which indicates that growth of production marked an increase of more than the 0.5 percent targeted by the country.

Minister of Finance Mohamed Ma'it stated earlier that LE 856.6 billion of 2019/2020 go for tax collections with an increase of 13 percent and other earnings rise 30 percent to LE 277.8 billion.