The Ethiopian Revenues and Customs Authority collected 22.26 billion birr in revenue in the first quarter of the current financial year it announced.

The revenue raised by the authority was 103.57% of the21.49 billion birr it had projected for the fiscal period explained Ephraim Mekonnen, Head of the Public Relations Department of ERCA.

The performance registered by the authority over this period was 6.2 billion birr more than the amount it had collected during the same period in the previous financial year explained Ephraim.

A significant percentage of the authority’s income was raised from indirect taxes such as the Value Added Tax, Excise Tax and Turnover Tax which together raised 16.13 billion birr making up 72.47% of the total revenue collected by the authority over the quarter. 

9.1 billion birr from the money raised through indirect tax came from Value Added Tax which raised 41% of the total revenue for the fiscal period according to the performance report presented by the authority.

5.7 billion birr was raised from direct taxes including profit tax and employment tax making up 25.65% of the total revenue.
ERCA noted that it had seized 7.3 billion birr worth of contraband goods attempting to enter the country illegally and 1.2 billion birr worth of goods and livestock being smuggled out of the country during the course of the quarter.

In related news ERCA was able to collect 2.55 billion birr on behalf of the Addis Ababa City administration during the last quarter meeting the administrations aims to enhance revenue.

Source: The Reporter