ERCA catches insurers by surprise
Ethiopian Revenues & Customs Authority’s (ERCA) latest crackdown to collect unpaid custom bonds and guarantees provided to clients for the payment of import duties and taxes has caught insurance companies by surprise.
Bambis to close doors after 67 years
Bambis Supermarket – one of the oldest serving supermarkets in Addis Ababa– is on verge of shutting down its operations due to mounting frustrations caused by hard currency shortage and administrative hurdle.
ERCA tracking 1,062 vehicles brought in by tourists
The Ethiopian Revenues and Customs Authority is trying to track 1,062 vehicles that were brought to the country over the past five years by tourists. These vehicles are yet to be located if they are still in the country or out.
Contraband continues to shackle gov’t revenue
MPs demand the identities of the so-called ‘Contrabandists’ The Ethiopian Revenues and Customs Authority (ERCA) revealed that, the likes of tax evasion, fraud and the recently growing role of contrabandists continue to hamper progress of revenue collection of the country.
Ministry sets new VAT threshold
Almost five months after a public outcry over tax assessment that resulted in unrest in some parts of the country, the Ministry of Finance and Economic Cooperation (MoFEC) increased two weeks ago the threshold amount in excess of which businesses are required to pay value added tax (VAT), thus setting it now at one million birr from the previous 500,000 birr.
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