May 25 , 2019
The Ministry of Revenues collected 163.3 billion Br in revenues in the first 10 months of the current fiscal year, a 9.8pc increase compared to last year. The Ministry, which plans to collect 235 billion Br by the end of the year, has generated 144 billion Br in the first three quarters of this fiscal year. Out of the nation’s total budget, tax revenues are expected to cover 68pc of the budget. In the reported period, the Ministry took legal action against 124 businesses that were issuing fake receipts and 68 others are being investigated, according to Adanech Abebe, minister of Revenue. “These businesses have cost the nation six billion Birr,” she said. Currently, the nation’s tax-to-GDP ratio stands at around 11pc, but the government has plans to raise the ratio to 17.2 by the end of the second edition of the Growth & Transformation Plan.
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