Ethiopia's parliament, the House of People’s Representatives, unanimously approved the Proclamation for the Establishment of a Capital Market. The Proclamation lays the legal ground to proceed in the practical establishment of a capital market in Ethiopia.
The House of People’s Representatives, in its 14th regular session, approved a new proclamation to regulate the petroleum trading system. The legislation was passed with a majority vote, two votes against, and one abstention.
The House of Peoples’ Representatives (HPR) on January 14, 2016, unanimously approved diplomatic and official passport holders’ visa exemption bill with a number of nations, Ethiopian Herald reported.
The Ethiopian parliament has passed the Urban Landholding Registration Proclamation. The law is designed to ensure the protection of landholding rights and recognition of title to land-related permanent property of individuals, associations, private and government institutions through registration.
Accordingly, the proclamation will enable city administrations to identify the land available at their disposal through inventory and create integrated national landholding system compatible with the rural land administration.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.
