ADDIS ABABA – The Federal government of Ethiopia on Thursday recognised the top 400 loyal and transparent taxpayers of the 2021/22 Fiscal Year.
The fourth edition of the best taxpayers award was attended by President Sahlework Zewde and other federal government officials.
Ethiopia’s annual tax revenue has shown an increasing trend in recent years. However, officials say, its GDP ratio leaves much to be desired.
“To reduce dependence on foreign aid and meet the growing demand for development, the business community needs to play its role by paying taxes,” urged President Sahlework.
The President also expressed her hope that the recognition would encourage winning businesses to continue paying their tax on time and for others to follow suit.
The award ceremony held at Sheraton Addis saw 40 taxpayers receive platinum awards and 120 others bagged gold.
The remaining 240 taxpayers were also awarded silver.
The Chinese firm, Hunan Jian International Light City Ethiopia, received a special trophy.
Revenues Minister Aynalem Negussie congratulated the taxpayers and called on businesses to pay taxes on time and honestly.
During the 2021/20 Fiscal year, government’s tax revenue showed a 20.59% increase as compared to the preceding year.
The government was able to secure 336.710 billion Birr in taxes revenues in the fiscal year, which ended on July 7, 2022.
The total figure is 93.5% of its plan set at 360 billion.
Tax authorities have also begun the current 2022/23 fiscal year with an encouraging performance.
The ministry has secured 93.1 billion birr in tax and related revenues in the first quarter, showing a 32.94% jump from the period last year.
This year’s target is to obtain 450 billion birr revenue from tax and tax related sources.
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