A number of public sector companies and bodies affiliated to the state paid more than EGP 951m in taxes for fiscal year (FY) 2015/2016.
The companies submitted their tax declaration during the past period after the end of the specified time, ending on 31 April of each year, based on the fact that their fiscal year ends in June.
Government sources said that the General Authority for Investment (GAFI) paid its dues for FY 2015/2016, worth EGP 121m, whereas Misr Insurance paid nearly EGP 168m.
Cairo International airport, one of the public sector companies affiliated to the Ministry of Civil Aviation, paid EGP 170m, whereas the port authorities of Alexandria, Damietta, and the Red Sea paid taxes worth EGP 439m, including EGP 229m by the Alexandria Port Authority, EGP 100m by the Damietta Port Authority, and EGP 110m by the Red Sea Ports Authorities.
The sources added that the Holding Company for Tourism has submitted its tax declaration and paid its dues worth EGP 18m, whereas the Holding Company for Metallurgical Industries paid EGP 35m.
The sources said that a number of public sector companies have suffered losses in their budgets last year, and were not able to submit their tax declarations. These companies include the Holding Company for Textile, Weaving and Construction, while the Egyptian Radio and Television Union (ERTU) paid the income and stamp taxes.
