Egypt’s revenues reach LE 598.68B in 9 months

CAIRO – 30 May 2019: 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, according to the Ministry of Finance data.

The ministry 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 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.

Building taxes allocated the lion’s share of periodic taxes on property with LE 3.63 million, compared to LE 2.1 billion during the same months of the prior year.

On the other hand, lands tax revenues declined to LE 73 million by the end of March, down from to LE 129 million during the compared period.

Egypt expects to collect LE 5.48 billion in periodic taxes on property during the current fiscal year.