2merkato

The Revenues and Customs Authority of Ethiopia is dissatisfied with the annual inspection services offered to taxpayers by cash register suppliers. Cash register machines can fail in processing data transfers in the absence of appropriate servicing it was said.

ERCA has authorized about 11 companies’ to supply cash register machines on the local market. The suppliers are mandated to set up repair and maintenance facilities to offer annual inspections as per the arrangement with the tax authority.   

The regulations established by ERCA penalize taxpayers for falling to servicing their registers on an annual basis and yet only about a quarter of the 12,465 machines sold last year have been serviced this year.

The Ethio-Italian Trade and Investment Forum expected to enhance bilateral business ties between Ethiopia and Italy was held last week in Rome according to the Ministry of Foreign Affairs.

The event was attended by more than 150 Italian and over 30 Ethiopian businesses noted the press release by the MoFA.

The opportunities that reside in the many unexploited natural resources of Ethiopia and the country's conducive investment and foreign trade policy were promoted by government officials attending the event.

Ethiopian Airlines, Ethiopia’s flag carrier, was able to earn record operating revenues registering a growth of 50.4% in the first two quarters of the financial year according to Tewolde Gebremariam, Chief Executive Officer of the Airline.

The higher earning of the airline enabled it to absorb the 55% in increase and remain profitable in spite of a declining profit margin said Tewolde.

The growth registered by Ethiopia from July 8-Janury 9, the first six months of the Ethiopian financial year, is remarkable he said.

The Ethiopian-German Business Conference is to be held in Cologne Germany on the 6th of July. The conference aims to concentrate on marketing German goods in Ethiopia, enhancing networking opportunities between Ethiopian and German business and the effective use of innovative German products on the Ethiopian market.

The conference also hopes to create a positive image about Ethiopia and promote the range of investment opportunities available as well as working to enhance the relationship between the two countries.

Gunter Nokkie, the G8 Representative of Africa for the German Chancellor and Tadesse Haile, Ethiopian State Minister of Industry are both expected to the attend the conference which will be the first of its kind to held in Germany.