Tax authority: LE145 billion in revenue received in nine months

Egypt collected more than LE144.68 billion in tax revenue during the first nine months of fiscal year 2012/13, Mamdouh Omar, head of the Egyptian Tax Authority, said.

Omar said revenues have gone up 108 percent, compared with the same period of the previous fiscal year, during which the authority collected LE133.9 billion.

The total income received from tax returns for this period, which ended in March, went up to almost LE1.35 billion, compared with LE990 million for the same period of the previous year, Omar said.

He called on individuals and companies to speed up their payment of taxes in April.

Omar said taxpayers with high incomes are particularly important for the Finance Ministry, because they are the source of almost 80 percent of its revenues.

Edited translation from Al-Masry Al-Youm

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