By: Ahmed Farahat

The Egyptian Tax Authority (ETA) collected a total of EGP 122.197bn by 4 March 2013, an EGP 7bn increase compared to the same period of the previous year ending in March 2012, which saw collections total EGP 115.2bn.

A source within the ETA claimed that taxes collected so far had amounted to 86% of previous tax assessment figures, producing a total of EGP 141.703bn, representing a 106.1% increase from the same period last year.

Egypt’s Central Bank paid a total of EGP 8.29bn in taxes, while the Ministry of Petroleum paid EGP 31.54bn, compared to EGP 39.61bn the previous year, totalling 66% of previous tax assessment figures of EGP 47.95bn.

Income taxes collected totalled EGP 70.55bn, representing a EGP 3bn increase compared to the same period last year, with goals being set to collect EGP 82.84bn by the end of the month.

The Large Taxpayer Centre’s share of income taxes collected so far has reached EGP 58.02bn, an EGP 1.5bn increase from the previous year.