Ministry Forms Office to Broaden Tax Base

October 23 , 2018


Ministry Forms Office to Broaden Tax Base

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.


Radar

Leather Industry Struggles to Meet Expectations

The struggling leather industry managed a little over 33 million dollars in export earnings over the first 10 months of the financial year. It is less than half of officials' aspirations to generate 69 million dollars over the same period, and highlights the troubles faced by the industry over the past few years. Exports from finished leather goods plunged 72pc last year from three years ago. Only eight finished leather manufacturers accounted for 89pc of last year's export earnings, sh...


Radar

Corporation Calls on Suppliers for 200,000tn Sugar Procurement

Executives of the Ethiopian Sugar Corporation have taken steps to procure 200,000tn of sugar from international suppliers. The Corporation had invited shortlisted companies to submit offers, after an attempt to procure the sugar through an international tender went awry. However, officials at the Ministry of Finance instructed its executives to scrap the invitation and proceed to float a second bid. The shortlisted suppliers have also been invited to take part in the bidding process. T...


Radar

TAGGED

Youth in the National Theatre area are waiting for the bus to start moving. They have found a handle to grab and accelerate them ones its starts moving as they ride their skateboard. Although skateboarding is nearly unheard of in Ethiopia, over the past few years, young people have developed a taste for it. Safety, though, leaves a lot to be desired...