Ethiopia's Businesses Trepid Over New Commercial Code Proclamation

Jun 17 , 2023

The new wave of taxes took priority in a discussion on the two-year-old commercial code proclamation during a stakeholder forum organised by the Addis Abeba Chamber of Commerce & Sectoral Associations(AACCSA). It raised questions about their legitimacy, particularly on property and services. The code aims to transform various areas, such as insolvency law and protecting the minority stake owner's rights. The provision that allows for an individual's establishment of a private limited company was one key area in which participants found significant challenges in the implementation. The moderator, Yohannes W. Gebriel, raised concerns about the legitimacy of these taxes, leading to a lively interaction on the hurdles and prospects experienced in the two-year implementation. The meeting at the Inter Luxury Hotel on Guinea Conakry St. also emphasised the importance of having a board of directors with dual functions - one executive and the other supervisory - to ensure the success of shareholding companies.



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