Minister of Finance Dr. Youssef Boutros Ghali has announced that tax revenues have soared 14%,  reaching 64.4 billion pounds despite the introduction of the new income tax law which has led to halving taxes to 20%.  Dr. Ghali has added that the income tax base has soared by 18% to 27.2 billion pounds, an increase of 4 billion from last year. Taxes on goods and services have also registered a 9% increase to 26 billion pounds as well as the tax base on customs by 17% to register 7.4 billion pounds due to active economic activity and a rise in imports.

The Minister has explained that other non tax revenues have witnessed a 50% increase or 35 billion pounds with income soaring to approximately a 100 billion pounds, or a 24.5 % rise over the same period last year.  Dr. Ghali has explained that revenues are equivalent to 16.8% of GDP.

(source: Al-Akhbar)