Egypt's tax revenues rose to EGP2.2 trillion in the fiscal year 2023/24, marking a 35 per cent growth without introducing any new taxes or additional burdens, Head of the Egyptian Tax Authority (ETA) Rasha Abdel Aal has said. Speaking at a press conference with Finance Minister Ahmed Kouchouk to announce last year's fiscal performance, she highlighted the success of the tax facilitation track in promoting voluntary compliance and attracting new taxpayers. Abdel Aal stated that over 141,000 taxpayers joined the e-commerce unit, generating EGP 7.7 billion in voluntary tax revenues, an 84 per cent rise. Additionally, 746,600 taxpayers registered for VAT and over 805,000 for income tax. The treasury bills and bonds unit generated EGP290.3 billion in tax revenues, up 81 per cent year-on-year, with securities-related taxes rising 43.6 per cent to EGP 26.1 billion. Additionally, 3.2 billion electronic invoices and receipts were issued in FY2023/24. Abdel Aal added that tax collections from dispute settlements, real estate transactions, and unlisted securities reached EGP10 billion. Electronic filing for FY2024 brought in EGP177.4 billion in revenues, a 107 per cent increase. The authority refunded EGP7.6 billion in VAT, a 200 per cent increase, and the risk management system generated EGP12.2 billion in revenues by June 2024. 152,400 taxpayers received relief on late fees and additional taxes, totalling EGP17 billion. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
