City Revenues Bureau, Ethio telecom Ink Telebirr Tax Platform Deal

Jul 23 , 2022


The Addis Abeba Revenues Bureau has partnered with the state-owned Ethio telecom to enable small businesses to pay taxes through the latter's mobile money platform. The Bureau categorises around 300,000 small businesses with less than half a million Birr in annual turnover under category 'C'. The Bureau has been implementing an e-filing system beginning last November for around 1,000 'large taxpayers,' classified as businesses having annual turnover above 40 million Br. A statement from Ethio telecom discloses that close to 700 category 'C' taxpayers have settled around four million Birr in taxes through its Telebirr mobile money platform since the feature was introduced earlier this month. Telebirr has garnered more than 20 million subscribers and facilitated transactions valued at 15 billion Br since it was launched in May 2021.


Radar

Customs Commission Sets Another Franco Valuta Deadline

The Ethiopian Customs Commission has given importers who used the franco valuta system up to December 26 to finalize the import of their goods. This pertains only to importers who purchased the merchandise and registered their import documents to the Commission before November 7. The Ministry of Finance had previously offered a two-week window for merchandise imports made through the scheme to finalise customs procedures. It is to be recalled that the government banned merchandise imports under...


Radar

National ID Strides Further to Mandatory Field

The National Bank of Ethiopia issued a notice to all banks mandating the use of the National ID for new bank account openings starting January 1, 2025, for branches in Addis Abeba while the same will apply for branches in major cities on July 1, 2025. All branches nationwide must comply starting January 1, 2026, while existing account holders are required to present their National ID by December 2026. The Central Bank stated its objectives for the move are to enhance the security of the financi...


Radar

Hibret Climbs Further Profit Heights

Hibret Bank posted a surge in net profits to reach 2.3 billion Br, traversing economic adversities. The Bank grew its revenues to 13.23 billion Br—an increase of 28.1pc from the previous year. Total assets were registered at 96.58 billion Br, exhibiting a 16pc increase, while total deposits rose by 15.6pc to reach 74.65 billion Br. With loans and advances sitting at 68.89 billion Br, Earnings Per Share (EPS) stood at 383 Br. The Bank opened 26 new branches during the year to reach a total o...


Back
WhatsApp
Telegram
Email