![](https://addisfortune.news/wp-content/uploads/2024/07/IMAGE-2024-07-26-183455.jpg)
Beverage companies and commercial banks dominated last week's event held at the Grand Palace up at Arat Kilo. Prime Minister Abiy Ahmed (PhD) handed out recognition awards to over 300 taxpayers for their "integrity" in paying their dues to the state. The Prime Minister was accompanied by Le'ake Ayalew (centre), a minister of Revenues, and Shimelis Abdisa, president of Oromia Regional State. The honorees included state-owned enterprises such as Ethio telecom and the Commercial Bank of Ethiopia (CBE). Ethio telecom generated over 56.5 billion Br in revenues last year.
Private companies, such as BGI Ethiopia, Heineken, and WeBuild S.P.A Ethiopia Branch (formerly Salini Impregilo S.P.A), the contractor hired to build the civil works on the Grand Ethiopian Renaissance Dam (GERD), were also present. Of the top 30 large taxpayers, seven were beverage companies and another seven commercial banks. Last year's version of the event saw 200 taxpayers awarded for their diligence. The number has grown, and government tax revenues have reached a record-high 279 billion Br last year, an 18pc jump.
Tax officials claim the figure represents 96.4pc of the target, although the war in the north has prevented them from collecting around eight billion Birr from Tigray Regional State. The war is putting a strain on public finance, and with development partners threatening to cut budget support and impose sanctions over the ensuing humanitarian crisis, authorities will likely apply more pressure on taxpayers in a bid to compensate.
"A country that can't earn enough revenues from domestic taxpayers will be forced to appear before prosperous countries begging for money that won't even be enough," said Prime Minister Abiy.
PUBLISHED ON
Oct 23,2021 [ VOL
22 , NO
1121]
Covid-19 | Mar 21,2020
News Analysis | Aug 28,2021
Featured | Nov 12,2022
Life Matters | Oct 30,2022
Life Matters | Mar 21,2020
Commentaries | Mar 02,2019
In-Picture | Oct 26,2019
Commentaries | Sep 26,2021
Viewpoints | Mar 27,2021
Viewpoints | Feb 17,2024
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transportin...
Jul 13 , 2024 . By MUNIR SHEMSU
The cracks in Ethiopia's higher education system were laid bare during a synthesis re...
Jul 13 , 2024 . By AKSAH ITALO
Construction authorities have unveiled a price adjustment implementation manual for s...
Jul 13 , 2024
The banking industry is experiencing a transformative period under the oversight of N...
Jul 20 , 2024
In a volatile economic environment, sudden policy reversals leave businesses reeling...
Jul 13 , 2024
Policymakers are walking a tightrope, struggling to generate growth and create millio...
Jul 7 , 2024
The federal budget has crossed a symbolic threshold, approaching the one trillion Bir...
Jun 29 , 2024
In a spirited bid for autonomy, the National Bank of Ethiopia (NBE), under its younge...