Economy

Federal Tax Administration Amendment Bill Faces Fresh Opposition from Traders

Traders have raised alarm over the controversial new provision that allows tax authorities to retroactively investigate tax fraud cases up to 10 years in the past.

187 Million Birr in Financial Irregularities Found across 75 Public Institutions

Bureau Takes Immediate Action on Financial Irregularities

The 10-Year Audit Period and the New Rights of Taxpayers

The new draft proclamation aimed at curbing tax evasion grants tax authorities the power to audit records up to 10 years back, while also introducing a mediation system to resolve disputes between taxpayers and the authority more efficiently.

What are the key points of the National Bank of Ethiopia's strict new directive?

The directive has established strict measures to ensure legal compliance. Providing false information or attempting to bypass the regulatory system will result in financial penalties, confiscation of property, and criminal liability.

Ethiopia's new plan to pay its foreign debt has been rejected

The current negotiation stalemate has placed Ethiopia under severe financial pressure, similar to other African countries.

IMF's Three Obligations for Ethiopia

The organization has set three major obligations that the government must implement in order to stabilize Ethiopia's macro economy and strengthen its financial capacity.

What does the new tax directive issued by the government say?

The National Bank of Ethiopia has announced new licensing and pricing adjustments for foreign trade participants.

The National Bank of Ethiopia has announced the implementation of new directives aimed at streamlining foreign exchange administration and improving the business environment.

The controversial new tax law

Taxpayers will not be allowed to present new evidence during the appeals process, it has been stated.

Proposed Ethiopian Tax Law Amendment Introduces 100,000 Birr Penalty for Failure to Issue Receipts

Proposed Ethiopian Tax Law Amendment Introduces 100,000 Birr Penalty for Failure to Issue Receipts