Ministry Suspends VAT on Essential Medicines Temporarily

Sep 14 , 2025


[ssba-buttons]

The Ministry of Finance (MoF) announced the suspension of value-added tax on certain over-the-counter medicines sold by pharmacies until a legal amendment is finalised. The move follows a request from the Ministry of Health (MoH), which stressed that widely used medicines, including paracetamol, gastrointestinal and respiratory drugs, antimigraine treatments, musculoskeletal medicines, topical anti-infectives, antihistamines, vitamins, folic acid, minerals, and contraceptives, are critical for primary healthcare, child development, and family planning. Under current law, OTC medicines are generally subject to VAT unless prescribed by a doctor. The suspension ensures these essential drugs remain accessible and affordable while the legal framework is updated to formally exempt them from taxation.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...