Jan 11 , 2020
The Ministry of Trade & Industry lifted the 50pc tax imposed on the export of pickled and white blue leather products as of January 6, 2020. State Minister for Trade & Industry Teka Gebreyesus mentioned that the tax had highly undermined the growth of the industry. Before lifting the tax, the Ministry, the Leather Industry Development Institute, and key stakeholders in the sector conducted a study that showed the effect of the tax. Of the 17 leather processors, five have shut down their businesses, and the remaining are operating below their capacity. "Companies that have gone bankrupt will revive and open their doors again," said Teka. It was a much-needed action taken by considering the complaints of the investors, according to Berhanu Abate, president of the Ethiopian Raw Hides & Skin Suppliers’ Association.
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