Egypt gets 3.7 billion pounds of property taxes in 9 monthsVisits : 213

Egypt gets 3.7 billion pounds of property taxes in 9 months

CAIRO - Egypts revenues from regular property taxes during the first nine months of the current fiscal year rose by 60.8 percent year-on-year, according to data from the Egyptian Ministry of Finance.

In a recent report published on its website, the Finance said that the periodic tax revenues on property amounted to 3.7 billion pounds from the beginning of July until the end of March, compared to 2.3 billion pounds during the same period last year.

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The building tax was the largest contributor to the increase in the periodic tax on property during the nine months.

According to the report, revenues of building tax during July-March amounted to about 3.63 billion pounds, compared to 2.1 billion pounds during the same period last year.

While land tax revenues fell during the period, recording about 73 million at the end of March, compared to 129 million pounds during the same period last fiscal year.

Egypt expects to collect 5.48 billion pounds in periodic taxes on property during the current fiscal year.

Egypts revenues for the first nine months of the current fiscal year reached LE 598.68 billion at the end of March, of which LE 468.4 billion were tax revenues representing 78.2% of total revenues.