Ethiopian Revenue and Customs Authority (ERCA) announced it aims to collect a total of 132.7 Billion Birr in the just began fiscal year.

This was announced during a briefing on the Authority’s last fiscal year’s performance, which was held on Wednesday, August 6, 2014. The briefing was made by the Authority’s Director General Beker Shale.

Beker noted the plan will show a 24.59 percent increment from the previous fiscal year’s performance which was 97.8 Billion Birr. He explained the performance of the Authority on 2013/2014 met 96.5 percent of its plan.

The Director General noted revenue collection has been increasing year after year and attributed that for the tax payers’ cooperation and Authority employees diligence.

According to Beker, out of the total 97.8 Billion Birr 55.5 percent of it is derived from domestic tax revenue and the rest came from foreign trade tax and other sources, contributing 42.7 percent and 1.8 percent respectively.

He further noted, the Authority performed more than it had planned in Addis Ababa. It managed to collect 14.3 Billion Birr while its plan was collecting 13.9 Billion Birr. The revenue was collected from direct, non direct taxes and municipality related services.

Beker explained the ERCA is dedicated to realize the plan it has made by ensuring good governance, combating rent seeking attitudes and applying state of the art technology in the sector.

Source: Ethiopian Herald