2merkato

The Ethiopian House of Representatives ratified double taxation and fiscal evasion agreements with the governments of the Seychelles and the United Kingdom.

The agreement with the United Kingdom was signed in June of 2011 during the UK-Ethiopia Investment Forum, Taxes included in the agreement include Ethiopian income and profit taxes and taxes on income from activities in the agriculture, mining and petroleum sectors as well as UK income, corporation and capital gain taxes.

The strong bilateral relationship between the two countries means that the approval by the Ethiopian Parliament is welcomed by the UK said Greg Dorey, British Ambassador to Ethiopia.

The Ethiopian Civil Aviation Authority graduated eight air traffic controllers trained to use both Automatic Dependent Surveillance- Broadcast technology and Surveillance System Radar.

The training offered is part of the agreement between ICAO Technical Cooperation Bureau and the Ethiopian Civil Aviation Authority to train a total of 24 air traffic controllers.

The Automatic Dependent Surveillance- Broadcast technology is a more advance, accurate and cost effective as compated to the radar system said Muhammad Kuwaji, International Civil Aviation Organization (ICAO) Project Coordinator speaking at the graduation ceremony.

Awash Winery, Ethiopia has attracted a bid higher than the starting price set by the Privatization and Public Enterprises Supervising Agency in the round of bids opened last week. The floor process set by the PPESA for Awash was 438,604,756 birr.

Blue Nile plc offered 458, 400,000 for the publicly owned winery which was much lower than the 277.4 million birr offered by Bosberi plc said Sileshi Tujji, Corporate Communications Expert with the PPESA.

The proposal presented by Blue Nile stipulated that it will pay 35% upfront and the rest over five years, Bosberi on the other hand offered to pay 30% before signing and the remainder at the handover.

The Addis Ababa Chamber of Commerce and Sectoral Association held its General Assembly meeting at the Hilton Hotel. The meeting focused on discussing the by the successful transformation process undertaken by the Chamber.

The General Assembly meeting which was attended by representatives of the city’s business community was opened by  Kuma Demeksa, mayor of Addis Ababa.

The city chamber of commerce has now devised a five year plan to offer a wide range of services to the whole business community according to Ayalew Zegeye, president of the AACCA. The implementation of this plan is already underway, he added.