Office Announces No Change with Tax Paying Period

Jul 13 , 2020


[ssba-buttons]

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

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...