– Egypt’s tax revenues witness an impressive growth rate exceeding 38%.

– Significant contributions from electronic tax systems, including a 66% compliance rate for income tax registration and a 49% compliance rate for value-added tax.

– Implementation of recent campaigns results in the immediate payment of 1.6 billion Egyptian pounds towards tax liabilities, indicating enhanced governance of the tax community.

Egypt’s Minister of Finance, Mohamed Maait, has revealed a remarkable 38% surge in tax revenues since the commencement of the current fiscal year.

This notable uptick is credited to a 66% compliance rate for income tax registration and a 49% compliance rate for value-added tax. Recent initiatives have resulted in the immediate settlement of tax liabilities amounting to 1.6 billion Egyptian pounds.

Maait underscored the pivotal role played by electronic tax systems in establishing a precise database of commercial transactions nationwide.

The electronic invoicing system alone has issued more than one billion electronic invoices. Coupled with electronic receipt and declaration systems, these digital platforms have substantially improved the governance of the tax landscape.

Consequently, a segment of the informal economy has been successfully integrated into the formal sector, further propelling the growth of tax revenues.