Tax Authority President Abdel Moneim Matar said LE267 billion, which represents 90 percent of the 2014-2015 target, have already been collected, including LE105 billion in sales taxes and LE162 billion in income taxes.
“We are working on incorporating the informal economy into the tax system,” Matar said, adding that he is personally against tax incentives. “They encourage tax evasion,” he said.
He said there are LE35 billion in taxes that the General Petroleum Corporation, the Central Bank and the Suez Canal Authority have not yet paid. “We will receive this amount in the next fiscal year,” he said.
Edited translation from Al-Masry Al-Youm
