The government of Ethiopia is set to introduce excise tax on more goods in a bid to collect additional over $1 billion annually.The country has been imposing excise tax on selected goods, such as luxury goods and basic goods which are demand inelastic. The new excise tax will be implemented on number of other goods even though their lis has not been announced yet. “Imposing excise tax on other goods will be implemented shortly and the government is set to collect more than $1 billion annually, the country’s State Minister of Finance Eyob Tekalign disclosed on Thursday in a briefing. Ethiopia also has been imposing excise tax on goods that were belived to have been hazardous to health and cause social problem in attempt to reduce consumption of such goods. The pilot program on single treasury account will be implemented on seven government institutions this Ethiopian fiscal year, Eyob added.

Source: Ethiopian News May 09, 2019 12:00 UTC