The Ethiopian Ministry of Revenue Tuesday announced that it has collected more than $5.7 billion in revenue during the last nine months, meeting 96 percent of its target.The plan was to earn $5.9 billion according to a statement issued by the ministry. However, it said, the revenue obtained in nine months surpassed by 25.6 percent compared to the same period the previous fiscal year. In a virtual performance evaluation held Tuesday, Lake Ayalew, Minister of Revenue, said more efforts will be made to step up his ministry’s income generation capacity. The ministry has a plan to raise the revenue collected from various income titles to $8.4 billion when this Ethiopian fiscal year ends in early July. Meanwhile, the Ethiopian council of minister on Tuesday announced a 20 percent tax cut and other related measures for taxpayers, among other things to deal with the effects of the coronavirus.

Source: Ethiopian News April 28, 2020 21:22 UTC