Minister of Finance Amr El-Garhy - Archive
CAIRO – 8 May 2017: Tax revenues recorded 291.13 billion EGP during the first ten months of the current fiscal year (FY) 2016/17, compared to 225.69 billion EGP in the corresponding period of FY 2015/16, Finance Minister Amr el-Garhy said Sunday.
El-Garhy’s statement came during his tour in the Senior Taxpayer Centre. He added that the tax amounts collected represent 135 percent of the total target of the current fiscal year, which was estimated at 289.875 billion EGP.
The minister announced the names of 11 companies which have paid the most this year, including: the Arab Petroleum Pipelines Company (SUMED), Elsewedy Power System Projects, Orascom Construction Industries, Nestlé, Samsung, Nasr City for Housing and Construction, United Gas Derivatives Company, Johnson & Johnson, Egyptian LNG and HSBC Bank.
El-Garhy added that the income tax recorded 94.383 billion EGP during the first ten months of the current FY, compared to 74.145 billion EGP during the same period last year, an increase of 27 percent.
Value-added tax (VAT) revenues recorded 132.223 billion EGP, which represent 99 percent of the target amounts.
Property taxes amounted to 1.9 billion EGP, compared to 950 million EGP last year, according to Deputy Finance Minister Amr el-Monayer.