Moody's Investors Service ("Moody's") has affirmed Ethiopia's B1 long-term issuer and senior unsecured ratings changing the outlook on the Government of Ethiopia to negative from stable on September 20, 2019.
The Ministry of Revenues announced that its tax payment campaigns has resulted in the hike of its revenue collection for the month of February as it collected 17.8 billion birr, a record monthly collection its history.
The Addis Ababa City Administration has decided to wipe the slate clean for some 6000 category “C” taxpayers who have been in a protracted tax valuation dispute with the city revenue authority; while dropping the charges against additional 1,780 businesses under its tax jurisdiction.
Assuming the leadership of the newly restructured Minster of Revenue for about two months now, Adanech Abebbe appears to be steadfast in fighting tax evasion and fraud disrupting the overall economic system.
The Addis Ababa City Tax Authority has made public that during the first quarter of the current fiscal year, it has managed to collect some 8.5 billion birr, 21 percent higher than last year’s similar quarter.