Electric Vehicles Catch Tax Break

Sep 17 , 2022

Drivers have an added reason to go electric as the import and sale of electric vehicles is no longer subject to value added tax (VAT) or excise tax, according to the Ministry of Finance. Officials hope to see the tax privileges encourage the use and affordability of electric cars, which have steadily been gaining popularity over the past couple of years. The tax exemptions extend to electric public transport vehicles, automobiles and trucks The import of fully-assembled electric vehicles will still be subject to a 15pc customs duty. Partially knocked-down parts brought in for domestic assembly are subject to 10pc less. Taxes imposed on non-electric vehicles have not been altered as officials plan to encourage the replacement of the growing fuel-consuming transportation service options with electric options.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...