Custom revenues reach LE25.6B in five months

CAIRO – 25 June 2017: The Customs Authority collected LE 25.6 billion ($1.41 billion) in revenues from the beginning of 2017 through May and expects to collect 95 percent of its target for the year, head of the authority Magdy Abdel Aziz said Sunday.

The authority will work to reduce customs evasions, which reaches 20,000 cases per year, Abdel Aziz said in a statement.

Tax revenues reached LE 325.4 billion, recording a 33.5 percent increase July-April in fiscal year 2016-2017 compared to LE 243.8 billion during the same period in the previous fiscal year, according to the Ministry of Finance.