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Finance Ministry targets EGP 900bn tax revenues in 2019-2020 budget

Sunday 03 February 2019 10:24 PM

Ministry of Finance
Ministry of Finance

By Sayed Badr

The Ministry of Finance aims to increase tax revenues included in the budget for the next fiscal year 2019-2020 by 130 billion pounds to about 900 billion pounds, compared to some 770 billion within the budget for the fiscal year 2018-2019.

A government source told Al-Mal newspaper that the Ministry of Finance held intensive meetings to develop the features of the new budget, pointing out that the figure of proceeds is still being discussed and is expected to be within the range of 900 billion pounds .

The government is taking a number of measures at present to increase future tax revenues, most importantly is mechanization of transactions, and electronic filing in order to curb tax evasion.