Tax authorities announced a pending requirement for unique excise stamps on excisable products as part of their target to improve tax collection strategies. Minister of Revenues, Aynalem Nigussie, has confirmed the federal government's determination to boost domestic income through improving tax collection. A new initiative mandating excise stamps equipped with unique identifiers will be introduced on certain imported and locally manufactured products. Tax authorities, such as the State Minister for Revenues, Meskerm Debebe, and customs commissioners, hope the new system will ensure compliance. Toppan Ethiopia has submitted a proposal detailing the implementation of the new system. This initiative demonstrated a shift in the authorities' approach to tax revenue generation, streamlining processes and optimising business compliance. According to federal tax officials, introducing the excise stamp system represents a proactive step in addressing the country's financial needs and reinforcing the government's revenue framework. If successfully implemented, they hope the system will have the potential to substantially enhance the federal government's tax collection efforts.

[ssba-buttons]