The Addis Ababa City Administration has warned over 100 real estate developers engaged in tax dodging and has been misusing the land they secured from the city administration. Currently 103 real estate developers who are building houses on 433,468 square meters of land are not paying taxes. The investigation also revealed that only 6 real estate developers are properly paying taxes, while 21 other have stopped paying taxes. Deputy Mayor Takele Umma, warned real estate developers who are engaged in illegal business that his administration will take legal measures against them. In Addis Ababa real estate development is considered as one of the biggest business investments with the transaction of billions of birr in the market.

Source: News Business Ethiopia January 31, 2019 07:41 UTC