Oct 23 , 2018
The Ministry of Revenues has formed an office to control unregistered and untaxed businesses in the country. The announcement came at the launch of a tax campaign last Friday. “The office will be responsible for bringing unregistered businesses under its radar,” says Adanech Abebe, minister of Revenues. The size of the commercial section involved in these unregulated and untaxed economic activities is substantial, according to the minister. The office will also have the mandate to take legal actions, when necessary, and is tasked to broaden the tax base and increase tax revenue. For the current fiscal year, the ministry plans to raise 230 billion Br from domestic taxation. Last November, the ministry collected 8.5 billion Br, a shortfall of 11.7pc from planned tax revenues.
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