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Cairo – Mubasher: Egypt seeks to raise the proceeds of the value-added tax (VAT) on all commodities and services by 13.9% year-on-year in fiscal year 2019/2020, according to a statement by the Ministry of Finance (MoF).
Total proceeds from VAT are expected to increase to EGP 364.7 billion in the coming fiscal year, the MoF unveiled.
This came on the back of the improvement in tax allocation and the expansion of the taxation base through the full application of the VAT law, the ministry highlighted.
The government aims at boosting its total tax proceeds in FY19/20 by 12.7% year-on-year to around EGP 856.6 billion in FY19/20.
Source: Mubasher
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