Search results
Results from the WOW.Com Content Network
Small businesses in Ethiopia are taxed differently than individuals. Businesses are required to pay: "business income tax, windfall income tax, other income tax, turnover tax and excise tax." [17] Over 20% of all tax revenue in Ethiopia is derived from business profit tax, and 62% of all direct taxes consist of business taxation. [12]
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.
Licenses have been issued to 250 foreign firms from countries such as China, South Africa, the UK, the US and Canada. The license stipulates that every mining company should allocate 5% free equity shares apart from 8% royalties and 35% income tax. [1] The initial validity of the lease is for 25 years extendable for further ten-year period. [7]
Issued in 1983, the Derg's Proclamation No. 235 (the Joint Venture Proclamation) signaled Ethiopia's renewed interest in attracting foreign capital. The proclamation offered incentives such as a five-year period of income tax relief for new projects, import and export duty relief, tariff protection, and repatriation of profits and capital.
To calculate income tax, add all forms of taxable income earned in a tax year. Next, find your adjusted gross income. Then, subtract any eligible deductions from your adjusted gross income.
Since the new constitution of Ethiopia enacted in 1995, Ethiopia's legal system consisted of federal law with bicameral legislature. [1] The House of People's Representatives (HoPR) is the lower chamber of bicameral legislature of Federal Parliamentary Assembly with 547 seats and the House of Federation with 108 seats, the former vested on executive power of Prime Minister and the Council of ...
6.9% (for minimum wage full-time work in 2024: includes 20% flat income tax, of which first 7848€ per year is tax exempt for low-income earners + 2% mandatory pension contribution + 1.6% unemployment insurance paid by employee); excluding social security taxes paid by the employer
The Transitional Government of Ethiopia (TGE) was an era established immediately after the Ethiopian People's Revolutionary Democratic Front (EPRDF) seized power from the Marxist-Leninist People's Democratic Republic of Ethiopia (PDRE) in 1991. [6]