Total taxes collected since beginning of July reached LE103 billion, without the compromise with the Egyptian General Petroleum Corporation, marking 35 percent increase from last year, according to the Tax Authority.
Arrears were estimated at LE76 billion accumulated since 1939 and will be collected.
In a conference held on Tuesday, Mostafa Abdel Qader, head of authority, said the tax of the wealthy law, which imposes 5 percent tax on those with more than LE1 million income annually, does not need implementing regulations.
The presidential decree on the law forcing trade companies to pay for the tax online will not increase the taxes, he said, stressing the necessity to consider a plan on merging authorities of tax and sales.
Edited translation from Al-Masry Al-Youm
