Egypt tightens measures on manipulations of bills of sale

CAIRO – 5 September 2017: Egypt started referring companies that manipulate the bills of sale to the Tax Authority’s tax evasion unit, head of the Consumer Protection Agency (CPA) Atef Yaacoub said Tuesday.

A number of 19 companies operating in the automotive market were referred to the tax evasion unit due to registering fewer values of sale bills than the actual value paid, Yaacoub told Egypt Today.

Yaacoub explained that some citizens have filed complaints to the CPA about receiving bills proving less money compared to what they paid.

Egypt collected LE 358 billion ($20.27 billion) in taxes in the period between July 2016 and May 2017, increasing to LE 89.4 billion compared to LE 268.6 billion in the year-ago period, state official statistics agency (CAPMAS) said in August.

Taxes on goods and services are of the highest taxes that contributed to high revenues, valuing at LE 170 billion, followed by income taxes, contributing LE 122.5 billion.

While taxes on international trade reached LE 23.9 billion of total taxes in the ten-month period, taxes on properties stood at LE 26.7 billion. Other revenues contributed LE 14.6 billion in the same period.