$139M worth of tax evasion cases detected in 1 day
Finance Minister Hani Kadry - YOUM7 (Archive)

CAIRO: Egypt detected a total of 40 cases of tax evasion valued at 1.09 billion EGP ($139 million) in 24 hours, Youm7 reported Tuesday.

The cases included commercial and business-related tax evasion cases.

Also around six vehicles were tracked full of smuggled foreign-manufactured goods, such as home appliances, school bags, makeup products, accessories and painting tools.

Cases are being presented before the specialized tax department to value the due taxes and fines.

According to the Finance Ministry statement in February, Egypt’s tax revenues do not exceed 15% of the country’s GDP.

Interim President Adly Mansour issued in December 2013 a new law permitting reconciliation in the current disputes between taxpayers and the government.

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