Ethiopia's Ministry of Finance is tightening its grip on tax collection with a new directive requiring excise stamps on specific goods. This move targets producers and importers of spirits, tobacco, bottled water, beers, cigarettes, and cigarillos, with the potential to expand to other products.
Addis Ababa City Administration signed an agreement with two construction contractors called KMCG and TNT to build a small and mid-level industrial park at a cost of Birr 7.7 billion. The project will construct 21 manufacturing sheds with different floors and 400 suppliers and production shops.
A new tax appeal commission started operation after it took over its duties from the dissolved tax council under the Office of the Attorney General. The commission will directly report to The Prime Minister who appointed Mulugeta Ayalew as its head. Other five nominees to be the members of the commission are awaiting approval from the Premier. The board members can only serve for three years and two consecutive terms.
A new plastic pipe and conduit manufacturing factory, established at a cost exceeding USD14 million in Adama Industrial Park, has commenced operations.
A Proclamation which encourages and supports novice inventors has been drafted by the Ministry of Innovation and Technology. Selamyihun Adefrs, Director of Innovation and Research at the Ministry, stated that discussions on the proclamation were being held with stakeholders.
The Director revealed that the Ministry was providing technical and financial support, for innovators which were selected for their ideas. It was also learned that the Ministry had set up a system through which development partners could fund winning innovations.
Source: Fana BC
