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FINANCIAL NEWS
Revenues from taxes in Arab world amount to USD810b
19 Mar 2017
(MENAFN) The Arab Monetary Fund (AMF) reports showed that in the Arab World revenues generated from different taxes were amounted to USD810b in the period between 2011 and 2015.
According to the AMF, tax revenues dropped in 2015 by 4.9% compared to 2014 due to the fall in revenues from income and profit taxes from USD64.1b to USD58.2b which was the result of low economic activity in many countries.
Also, profit and income taxes represented the largest chunk of USD810b revenues 35.2%, or USD266.6b.
In addition to the production and consumption taxes constituted 34.9% or USD285.6b, revenues from customs fees on foreign trade represented 15.1%, or about USD122.2b.
MENAFN1903201700450000ID1095326921
MENAFN1903201700450000ID1095326921
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