Addis Ababa Revenue Bureau announced a strong performance, collecting Birr 108 billion in revenue during the last nine months of the 2023/24 fiscal year. This achievement surpasses 98.5% of the city’s target of Birr 109.6 billion.

Revenue collection saw a significant growth compared to the same period last year. The office raked in additional Birr 34 billion, representing a 45% increase. This surpasses the total revenue collected in the entire 2022/23 fiscal year, which stood at Birr 107 billion.

The bureau credits its success to a diversified approach, collecting revenue from direct taxes, indirect taxes, municipal fees, and other sources. It also highlighted the implementation of digital tools to fight illegal trade and streamline tax payment services.

Challenges remain, however. The revenue bureau identified over 5,000 transactions involving fake invoices. It took action against those involved, imposing fines totaling 225 million birr. Looking forward, the bureau is determined to collect more than 140 billion birr in revenue for the entire fiscal year.

Source: Fana BC