{"id":634701,"date":"2018-01-22T04:10:03","date_gmt":"2018-01-22T04:10:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/"},"modified":"2018-01-22T04:10:03","modified_gmt":"2018-01-22T04:10:03","slug":"tax-revenues-up-62-y-o-y-in-1h2017-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/","title":{"rendered":"Tax revenues up 62% y-o-y in 1H2017-18"},"content":{"rendered":"

Tax revenues for the 1H2017-18 grew 62% y-o-y to EGP 249 bn<\/strong>, Vice Minister of Finance Amr El Monayer said yesterday, Al Mal reports<\/a>. The growth was driven by a 41% y-o-y increase in income tax collections to EGP 103 bn, as well as 83% y-o-y rise in proceeds from the value-added tax, which reached EGP 21 bn for the first half of the fiscal year. Real estate taxes also grew by 70% y-o-y to EGP 1.6 bn, while customs reeled in EGP 15 bn for the period, an increase of 44% y-o-y, according to El Monayer.<\/p>\n

Tax proceeds for FY2017-18 is expected to hover around 14.5-14.7% of total GDP<\/strong>, up from 13.6% in FY2016-17. The government is looking to raise that figure to 19% of GDP over the next four years, El Monayer also said<\/a>, explaining that a number of legal and regulatory changes. These include legislation to unify and simplify all tax procedures<\/strong>, as well as the Customs Act<\/strong><\/a>, which primarily work to clamp down on tax evasion. El Monayer said a first draft of the bill, which has been under consideration for some eight years, is being reviewed now.<\/p>\n

Capital gains tax update:<\/strong> The measure, currently on hold until 2020, would come into effect once the state establishes a clear framework for its implementation, Monayer said. He added that the stamp tax on capital market transactions<\/a> \u2014 a 0.125% levy that will rise to 0.175% in its third year \u2014 is more convenient to current circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tax revenues for the 1H2017-18 grew 62% y-o-y to EGP 249 bn, Vice Minister of Finance Amr El Monayer said yesterday, Al Mal reports. The growth was driven by a 41% y-o-y increase in income tax collections to EGP 103 bn, as well as 83% y-o-y rise in proceeds from the value-added tax, which reached […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634701","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1f0d2fec-f1b0-4392-81a8-b06314de3e4c","order":"0","is_powered_by":true,"section_story_id":"ae84b239-d486-4342-83dc-6e00a7f70e0f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[634686],"teaser":"","voice_url":""},"yoast_head":"\nTax revenues up 62% y-o-y in 1H2017-18 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax revenues up 62% y-o-y in 1H2017-18\" \/>\n<meta property=\"og:description\" content=\"Tax revenues for the 1H2017-18 grew 62% y-o-y to EGP 249 bn, Vice Minister of Finance Amr El Monayer said yesterday, Al Mal reports. The growth was driven by a 41% y-o-y increase in income tax collections to EGP 103 bn, as well as 83% y-o-y rise in proceeds from the value-added tax, which reached […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-22T04:10:03+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tax revenues up 62% y-o-y in 1H2017-18\",\"datePublished\":\"2018-01-22T04:10:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\"},\"wordCount\":242,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\",\"name\":\"Tax revenues up 62% y-o-y in 1H2017-18 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2018-01-22T04:10:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tax revenues up 62% y-o-y in 1H2017-18\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tax revenues up 62% y-o-y in 1H2017-18 - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/tax-revenues-up-62-y-o-y-in-1h2017-18\/","og_locale":"en_US","og_type":"article","og_title":"Tax revenues up 62% y-o-y in 1H2017-18","og_description":"Tax revenues for the 1H2017-18 grew 62% y-o-y to EGP 249 bn, Vice Minister of Finance Amr El Monayer said yesterday, Al Mal reports. 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