Cairo- Mubasher: Egypt's tax revenues rose 3% year-on-year to EGP 268.6 billion during the period from July to May 2015/2016 from EGP 261 billion, according to the ministry of finance (MoF).
Sales taxes also increased 13.8% during the eleven-month period to reach EGP 123.3 billion against EGP 108.4 billion in the same period of the previous year.
On the other hand, income taxes retreated to EGP 94.8 billion by the end of May 2015/16, compared to EGP 111 billion during the eleven-month period of 2014/2015, due to the unsettled conditions of the local gas companies.
MoF seeks EGP 60 billion settlements annually with the governmental oil companies.
