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Challenges abounded during the reforms, as Ethiopian law did not allow subnational governments to set their own tax rates, leading to an unwieldy tax system that required all decisions to be made from the federal level. [2] Additional reforms were passed in 2002 as Ethiopia continued the shift to a market systemâ .
A depreciation of the home currency has the opposite effects. Thus, depreciation of a currency tends to increase a country's balance of trade (exports minus imports) by improving the competitiveness of domestic goods in foreign markets while making foreign goods less competitive in the domestic market by becoming more expensive.
With a strict fixed exchange rate or a peg, the rate of depreciation of the exchange rate is set equal to zero. In the case of a crawling peg, the rate of depreciation is set equal to a constant. With a limited flexible band, the rate of depreciation is allowed to fluctuate within a given range. By fixing the rate of depreciation, PPP theory ...
In addition, the depreciation schedules imposed by tax departments may differ from the actual depreciation of business assets at market rates. Often, governments permit depreciation write-offs higher than true depreciation, to provide an incentive to enterprises for new investment. But this is not always the case; the tax rate might sometimes ...
Depreciation recapture: When selling a depreciated property, investors face a tax called depreciation recapture. This is how the IRS gets paid the taxes you didn’t pay when you depreciated the ...
Economic depreciation over a given period is the reduction in the remaining value of future goods and services. Under certain circumstances, such as an unanticipated increase in the price of the services generated by an asset or a reduction in the discount rate, its value may increase rather than decline. Depreciation is then negative.
Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. [2]
The ministry was established under Proclamation No.916/2008 on 7 July 2008 with reorganization from the former Ministry of Capacity Building. [1] Its envisaged to observe public service and complete its mission ethically by 2020, as well as contributing economic development and social welfare by promoting modern Tax and Customs Administration.