Parliament Ratifies Bilateral Tax Treaties

Jun 3 , 2023


Parliamentarians greenlighted a tax treaty agreement with Switzerland and Luxembourg, expanding the number of countries with bilateral tax treaties with Ethiopia to 20. Tax treaties entail the waving of taxes on passive and active incomes for citizens hailing from the signatory countries, while these uniquely grant the waiving of taxes for residents. State Minister for Finance Eyob Tekalegn attributed the trade importance of the two countries as the prime motive when it was presented before the Standing Committee of Plan, Budget & Finance. Switzerland was the number one destination for Ethiopian exports in the last fiscal year accounting for 32pc of the export volume. The Minister of Finance Ahmed Shide had indicated three weeks prior that increasing the tax-to-GDP ratio of the country is a national agenda as budgetary ceilings are circulated to most government institutions.


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Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


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Central Bank Holds Fourth Exchange Auction

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City Registers 64,075 Births in Fiscal Year

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