The primary indications for the season of presenting tax returns for 2008 on the legal persons (companies), which ended in April 30, 2009 reported an increase in revenues with outstanding returns ranging between 20% and 25% compared by the previous year.

Dr. Youssef Boutros Ghali, Minister of Finance assured that the indicators of corporate earnings statements reflected a growth rate that has been made of the Egyptian economy during 2008, which confirms the success of the new tax law to achieve the goal in the tax revenues associated with a growth rate of the national economy on the increases and decreases.

Mr. Ashraf elArabi the head of the Egyptian tax authority praised the tangible cooperation from most of the companies for the payment of the tax after the companies warned that the recognition of a tax installment would be paid for delay by 13.50% per annum discount rate is declared by the Central Bank in the first January 2008 by 11.50% +2%, adding that interest has responded to the requests of the companies found it difficult to pay the full tax for the existence of a liquidity problem, despite having achieved profits tax paid by the terms of the requests were accepted and payment of tax installments in accordance with the provisions of the law.

He announced that the Finance Minister will be issued within days, a list of 25 largest companies with the recognition of tax paid to them in appreciation for their contribution to tax revenues in the hope to increase the list to 50 names in the coming years.
(Source Al-Ahram)