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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.
The tax percentage for each country listed in the source has been added to the chart. According to World Bank , "GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
It also taxes their foreign income other than salaries at a flat rate of 10%. Tax paid to other countries on the same income may be used as a credit against the tax imposed by Myanmar. [136] [137] Tajikistan considers all of its citizens as residents for tax purposes, and taxes the worldwide income of its residents.
Fiscal Memory Devices(FMD)are electronic devices used to record sales tax owed to a country. [1] They are widely used in many countries around the world, as of 2004 including Russia, Bulgaria, Serbia, Romania, Republic of Macedonia, Albania, Argentina, Poland, Moldova, Bosnia and Herzegovina, Kazakhstan, Armenia, Georgia, Kenya, Tanzania, Malawi, and Ethiopia.
It is responsible for general financial management and economic policy of Ethiopia, in addition to the allocation of economic assistance. Formerly the Ministry of Finance, it has its origins in the ministerial system introduced by Emperor Menelik II in 1907.
From July 2009 to December 2012, if you bought shares in companies when James H. Hance, Jr. joined the board, and sold them when he left, you would have a -22.5 percent return on your investment, compared to a 54.5 percent return from the S&P 500.
About four-fifths of the population were subsistence farmers who lived in poverty because they used most of their meager production to pay taxes, rents, debt payments, and bribes. [40] The 1974 revolution resulted in the nationalization and restructuring of the Ethiopian economy. [40]