Chief Macroeconomist at the UN Economic Commission for Africa (UNECA), Adam Elhiraika, who is co-author of the 2019 Economic Report on Africa, advices African countries to abandon tax holidays for investors. “Many countries in Africa have offered tax exemptions, tax holidays that never worked. Tax holidays do not really matter a lot. It is not tax incentives that matter most for investors to do business in Africa,” said Adam Elhiraika. Official government statistics also shows that tax incentives in Africa have been abused and didn’t brought intended positive result in many cases.

Source: News Business Ethiopia March 20, 2019 16:17 UTC