almotamar.net - Yemen's tax revenues during the first half of the current year have mounted to 101,303,000,000 riyals ($512 million), exceeding the amount anticipated by the General Budget which is set at 87.6 billion riyals, President of the Tax Authority No'man Al-Suhaibi revealed.
"The increase in the revenues is the fruit of tax reforms conducted during the past period. Such reforms have facilitated the procedures and enhanced the relationship with the taxpayers," he added.
Yemen's tax revenues have increased to 153 billion riyals ($790 million) last year, a rise of 36 billion riyals (about $180 million) than the revenues of 2004, and a 31% increase than the estimates of the State's General Budget.
Economists attribute the increase to the Authority's efforts in modernizing and improving tax legislations and systems as well as simplification of tax accounting procedures in accordance with state-of-the-art methodology.