Authority pursues LE20 bln in late taxes

Authority pursues LE20 bln in late taxes

On

Wed, 02/01/2013 - 12:57

Tax officials are pursuing LE20 billion in back taxes this fiscal year as part of an effort to exceed last year's LE233 billion tax revenue, according to Egyptian Tax Authority head Mamdouh Omar.  

White-collar professionals such as doctors are among the worst offenders of tax evasion, Omar told state-run news agency MENA Wednesday.

Omar, according to the agency, is carrying out a plan to collect all LE60 billion of tax arrears, but expects only one-third of that amount to be paid during the current fiscal year, which ends in June.

"Tax evaders will be prosecuted," Omar said.

The Finance Ministry anticipated LE266 billion in tax revenue in its budget plan for fiscal year 2012/2013 and an LE135 billion total state budget deficit.

Edited translation from MENA