Economy

Tulu Kapi gold project breaks ground after six-to-seven-year delay

The company announced that a financing package exceeding $400 million has been arranged for the project, adding that the Ethiopian government holds a 17% stake.

Government’s Unilateral Policy-Making Stifling Economic Growth, Business Leaders Warn

How can we plan long-term when new laws are issued before we’ve even finished reading the last ones?" business leaders ask

Ministry of Revenues Launches New Electronic Invoice Directive

The new mandate requires taxpayers to issue registered electronic receipts for all sales, ensuring full transparency and simplifying verification for both buyers and tax authorities.

Audit Exposes Unauthorized Expenditure across Various Government Bodies, Including Health Ministry

Ministry of Health, Ethiopian Broadcasting Corporation, and Sports Academy Identified as Primary Offenders in Audit

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?