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.


Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the country's low electrification rate and reliance on charcoal and firewood. Charcoal, fuel wood, and...


Rural Land Proclamation Comes to Light

A landmark legislation that grants title holders in rural areas the right to use the property as collateral was unanimously ratified by Parliament last week. It primarily focuses on extending access to finance for farmers and pastoralists, through a structured land title system. It also introduces criminal penalties for the illegal transfer of property. Replacing the 18-year-old proclamation for rural land management, the law sentences individuals engaging in land invasions and unauthoris...


Ethiopian Unveils $50m Domestic Terminal Renovation

With a rising demand for domestic travel, Ethiopian Airlines has renovated its terminal at Addis Abeba Bole International Airport with 50 million dollars to handle customers. The expanded terminal has doubled its previous size to 25,750Sqm and accommodates 200 daily flights to and from 22 domestic destinations. It includes four contact gates, 10 remote departure gates, 22 check-in counters with automated baggage screening systems, shops and restaurants. The terminal also features a dedica...