Egypt Sees Huge Increase In Tax Revenues
by Lorys Charalambous, Tax-News.com, Cyprus
02 November 2015
Egypt's Ministry of Finance has issued a report showing a marked increase in tax revenues for the months of July and August 2015.
The report shows the highest increase in state revenue for three years, largely down to a tax revenue increase of 29.3 percent overall, with improved collection in the areas of sales tax, payroll taxes, property taxes and excise duties.
The figures reflect the strengthening economy but also the impact of recent tax reforms, including a hike in tobacco duties in February 2015 and an emphasis on improved compliance.
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