In a bid to avert the impacts of fluctuations in international trade, Ethiopia has introduced a newly amended export incentive policy, overhauling incentive scheme provisions for value addition in export commodities. The ‘Export Trade Duty Incentive Schemes Amendment Proclamation’ tabled to Parliament this week looks to replace legislation first ratified in 2012. The draft introduces a range of changes in the country’s export incentive landscape previously hoped to boost ailing export performance. Experts behind the draft also propose new rules regarding the import of defective raw materials. Under the 2012 proclamation, exporters were obliged to pay a five percent tax on imported raw materials that are found to be defective or damaged.

Source: Ethiopian News May 18, 2024 07:00 UTC