Meanwhile, tax revenues from non-sovereign entities rose by EGP 264 billion, or 38%, reaching EGP 956 billion, up from EGP 691.6 billion.
The Ministry of Finance announced on Monday that Egypt’s tax revenues recorded a significant increase of 38.4%, equivalent to EGP 342.4 billion, during the period from July to February of FY2024/2025. Total tax revenues reached EGP 1.234 trillion, compared to EGP 892 billion during the same period last year.
In its statement, the Ministry attributed the rise to the comprehensive growth across all types of tax collections, driven by the recovery of economic activity, the resolution of the foreign currency shortage, and the digitalization of tax systems, which improved tax administration and broadened the tax base.
The Ministry further noted that tax revenues from sovereign entities grew by EGP 78 billion, or 39%, reaching EGP 278.4 billion, compared to EGP 200.4 billion in the previous year. Meanwhile, tax revenues from non-sovereign entities rose by EGP 264 billion, or 38%, reaching EGP 956 billion, up from EGP 691.6 billion.
Income tax collections also showed strong performance, rising by 21.3% (EGP 36.2 billion) to reach EGP 259.6 billion over the eight-month period. This growth was largely driven by a EGP 27 billion increase in tax revenues from local salaries, which reached EGP 110 billion. Tax revenues from commercial and industrial activities rose by EGP 7.7 billion to reach EGP 46.7 billion, while revenues from non-commercial professions grew by 36.8%, reaching EGP 7.9 billion. Additionally, corporate income taxes totaled EGP 189.8 billion.
The Ministry also highlighted that Value-Added Tax (VAT) revenues grew by EGP 160.8 billion, or 39%, reaching EGP 573 billion. Revenues from taxes on goods increased by 54.3%, amounting to EGP 327.6 billion, and revenues from taxes on services rose by 34.8%, reaching EGP 76.6 billion.
Moreover, property tax collections surged by EGP 78.9 billion, or 59.3%, to reach EGP 212 billion over the same period. Taxes on international trade also climbed by EGP 33.7 billion, or 74.2%, reaching EGP 79.2 billion. Non-tax revenues during the same period also increased, totaling EGP 208 billion.
