Tax revenues from July to February 2021-22 rose by 13.6 percent to hit EGP 531.4 billion, up from EGP 467.8 billion during the same period last year, the Finance Ministry announced.

In a report released on Wednesday, the ministry said that tax revenues from sovereign bodies increased by 27.5 percent or EGP 18.3 billion to register EGP 84.8 billion in eight months, against EGP 66.5 billion of the same period of the past year.

The ministry added that tax receipts from non-sovereign bodies went up by EGP 45.2 billion to record EGP 446.6 billion from July 2021 until February 2022, versus EGP 401.4 billion in the same period of the past fiscal year.

It noted that tax receipts from value added tax surged by 34.8%.

Source: State Information Service Egypt