Finance Ministry: Tax revenues hit LE 109.8B in 2 months

CAIRO - 10 October 2021: Tax revenues from July to August of the fiscal year 2021/22 rose by 18.8 percent to hit LE 109.8 billion against LE 92.4 billion during the same period of the previous fiscal year, the Finance Ministry announced.

In a report released on Sunday, the ministry said that tax revenues from sovereign bodies increased by LE 14.8 billion to register LE 24.6 billion in July and August of the current fiscal year, against LE 9.7 billion of the corresponding period of the past fiscal year.

The ministry added that tax receipts from non-sovereign bodies went up by LE 2.4 billion to record LE 85.3 billion in the July and August of the fiscal year 2021/22, versus LE 82.8 billion in the same period of the past fiscal year.

It noted that tax receipts from value added tax surged by 12.8 percent to stand at LE 52.3 billion in July and August of the current fiscal year.

Revenues from the tax on cigarettes and tobacco products increased by 16.4  percent to reach LE 11.1 billion, while the proceeds from the stamp tax went up by 8.3  percent to hit LE 1.8 billion, the ministry said.

Tax revenues collected from the Suez Canal Authority increased by 10.4 percent within two months to stand at LE 17.3 billion, the ministry added.