Category Taxation In Africa

Egyptian Tax Revenues Above Projections

July 19, 2010 Taxation in Egypt

IMFCPresser_3Growth in Egypt’s economic activity and effectiveness of recent tax reforms have led to an extra EGP 12 billion (approx. USD 2.11 billion) in the Government’s budget during the previous fiscal year.

Throughout the 2009 fiscal year, the Egyptian economy grew by an estimated 5.2 percent, leading to a 6 percent increase in tax revenues, when compared to the previous year. The latest figures were released by Youssef Boutros-Ghali, Finance Minister of Egypt, in a media-statement on July 18th. According to his statement, the country’s total tax revenue of EGP 148 billion (approx. USD 26.45 billion) was EGP 12 billion (approx. USD 2.14 billion) above projections. Sales Tax revenue reached EGP 55.7 billion (approx. USD 9.78 billion) in the 2009 fiscal year...

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South Africa Sets Record Tax Year

January 28, 2010 Taxation in South Africa

I hate tax returns!The South African Revenue Service (SARS) has announced that the 2009 year broke records in tax return efficiency, filing and improved compliance.

In a media release the SARS announced that the 2009 tax season had set “phenomenal” new records. The number of tax returns submitted by the November 20th deadline rose by 26 percent, exceeding 4 million for the first time. Individual tax return filing, including overdue 2008 returns, reached 3.9 million. Approximately 79 percent of individual tax payers filed their tax-returns before the deadline, compared to 58 percent in 2008. Electronic filing of individual returns rose by over 100 percent and surpassed 2 million for the first time...

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