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.

Ethiopia’s government has collected 63 billion Birr from tax in the first quarter of the current fiscal year. This was disclosed by the Ethiopian Revenue and Customs Authority (ERCA).

Ethiopia’s solo expressway company, Ethiopian Toll Road Enterprise, made a total of 145.7 million Birr during the first 9 months of the current fiscal year. The income, which was 98 percent of the Enterprise’s target, was disclosed by Ministry of Transport (MoTr) during its 9 months report to the House Peoples’ Representatives.

Ethiopia’s total public debt has reached USD 51.8 billion, with domestic borrowing showing an increase, the Ministry of Finance said.

Ethiopia’s effort to restructure its USD 1 billion international bond faced a new setback after bondholders rejected a revised proposal that had been adjusted to address concerns raised by official bilateral creditors.