Office Announces No Change with Tax Paying Period

Jul 13 , 2020


The Addis Abeba Revenues Office has announced that it made no change to the tax reporting period this tax season due to the Novel Coronavirus (COVID-19) pandemic. The Office has made all the necessary precautions for the prevention of the spread of the virus, according to Shisema G. Silassie, head of the Office, during the consultative meeting that was held on the issue last week with the representatives of the tax payers. The tax collection was started last week and will continue until the beginning of November. For the coming fiscal year, the government planned to collected 271.7 billion Br in tax revenues. During the just ended fiscal year, the country collected less than 200 billion Br due to COVID-19 of the planned 244 billion Br.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email