Taxes, fees on cars adds LE 4.6B to Egypt’s revenues in 9 months

CAIRO – 30 May 2019: Egypt's revenues from taxes and fees on cars increased by 94 percent in the first nine months of the current fiscal year, recording LE 4.6 billion , compared to LE 2.37 billion during the same period of fiscal year of 2017/2018.

Egypt is expected to collect LE 5.65 billion as revenues from taxes and fees on cars during the current fiscal year which started in July 2018 and will end in June 2019.

According to the revealed data, Egypt recorded revenues of LE 598.68 billion during the first nine months of fiscal year 2018/2019, compared to LE 497.81 billion during the same of period of the prior fiscal year.

The data revealed that tax revenues reached LE 468.4 billion by the end of March, representing 78.2 percent of total revenues, compared to LE 403.2 billion during the same period in 2017/2018.

During the first nine months, tax revenues hit LE 130.27 billion, compared to LE 94.6 billion during the same months of the previous year.

Egypt’s revenues from periodic taxes on property during the nine months hiked 60.8 percent on YoY, recording LE 3.7 billion, compared to LE 2.3 billion during the compared period.

Egypt’s revenues from selling goods and services increased 61.2 percent during the first nine months on a year on year basis.