Photo Gallery | 185853 Views | May 06,2019
Jan 17 , 2020
Ministry Slashes Tax on New Import Vehicles Down to 5pc.
The Ministry of Finance has slashed the proposed 35pc excise tax on brand new vehicles with 1,300cc engines and below to just five percent. It also reduced the 15pc excise tax on bottled water to 10pc, while increasing the tax on tobacco products by one Birr on each pack. The revised draft excise tax law proposed to impose an excise tax of 30pc in general and five Birr a packet. The announcement was made today at a press briefing by Eyob Tekalign (PhD), state minister for Finance. The changes were made after the Ministry held consecutive meetings with industry operators and parliament held public hearings. The controversial bill, which faced a strong backlash from companies and businesses, was tabled to the parliament for legislation a few weeks ago.
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