Nov 27 , 2018
Fifteen companies face charges after being found transacting goods and services without issuing value-added tax (VAT) receipts. The Ministry of Revenues performed its investigation in 18 different businesses, and police took 35 employees of the companies into custody for investigation. “The companies have a legal license but didn’t give a valid receipt to their customers,” says Zemede Tefera, state minister of revenues. The Ministry reported it had lost four billion Birr because of the transactions made by 124 companies using fake receipts, without registering with the Ministry of Trade & Industry or possessing a license. Also in the first quarter of the current fiscal year, the Ministry audited 563 companies and found counterfeit transactions worth 722 million Br.
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