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Taxation In Ethiopia
Ethiopia has a long history of taxing its population. , reforms have changed the way the tax system works in the nation; these reforms have aimed to centralize tax authority. Currently the nation's federal government lobbies many different types of taxes on its population; these taxes include income taxes on four main schedules, property taxes, and value added taxes (VAT). History As one of the longest standing centralized independent nations in Africa, Ethiopia has a long history of levying taxes against its population. After the fall of the Emperor and the rise of the Derg government, much of the tax system was revamped under the new socialist system. In 1976, agricultural and rural land taxes were replaced by a land-use fee and a new agriculture tax.Mesfin, Yohannes, and Sisay Bogale. “History of Taxation in Ethiopia.” ''History of Taxation in Ethiopia'', Abyssinia Law, 15 July 2013, https://www.abyssinialaw.com/study-on-line/item/1068-history-of-taxation-in-ethiopia. Ethi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopia
Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the north, Djibouti to the northeast, Somalia to the east and northeast, Kenya to the south, South Sudan to the west, and Sudan to the northwest. Ethiopia has a total area of . As of 2022, it is home to around 113.5 million inhabitants, making it the 13th-most populous country in the world and the 2nd-most populous in Africa after Nigeria. The national capital and largest city, Addis Ababa, lies several kilometres west of the East African Rift that splits the country into the African and Somali tectonic plates. Anatomically modern humans emerged from modern-day Ethiopia and set out to the Near East and elsewhere in the Middle Paleolithic period. Southwestern Ethiopia has been proposed as a possible homeland of the Afroasiatic langua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $10,000 of income taxed at 0%, the next $10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheritance or gift and taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or geographical region or a municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted to a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the value of land, excluding the value of buildings and other improvements. Under a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Tax
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derg
The Derg (also spelled Dergue; , ), officially the Provisional Military Administrative Council (PMAC), was the military junta that ruled Ethiopia, then including present-day Eritrea, from 1974 to 1987, when the military leadership formally " civilianized" the administration but stayed in power until 1991. The Derg was established in June 1974 as the Coordinating Committee of the Armed Forces, Police and Territorial Army, by officers of the Ethiopian Army and Police led initially by chairman Mengistu Haile Mariam. On 12 September 1974, the Derg overthrew the government of the Ethiopian Empire and Emperor Haile Selassie during nationwide mass protests, and three days later formally renamed itself the Provisional Military Administrative Council. In March 1975 the Derg abolished the monarchy and established Ethiopia as a Marxist-Leninist state with itself as the vanguard party in a provisional government. The abolition of feudalism, increased literacy, nationalization, and swee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added Tax
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Ethiopia
The economy of Ethiopia is a mixed and transition economy with a large public sector. The government of Ethiopia is in the process of privatizing many of the state-owned businesses and moving toward a market economy. The banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies. Ethiopia has one of the fastest-growing economies in the world and is Africa's second most populous country. Many properties owned by the government during the previous regime have now been privatized or are in the process of privatization and the liberalization of its financial sector in the near future. However, certain sectors such as telecommunications, financial and insurance services, air and land transportation services, and retail, are considered as strategic sectors and are expected to remain under state control for the foreseeable future. Almost 50% of Ethiopia's population is under the age of 18. Even though education enrolment at primary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopian Birr
The birr ( am, ብር) is the unit of currency in Ethiopia. It is subdivided into 100 ''santim''. In 1931, Emperor Haile Selassie I formally requested that the international community use the name ''Ethiopia'' (as it had already been known internally for at least 1,600 years) instead of the exonym ''Abyssinia'', and the issuing ''Bank of Abyssinia'' also became the ''Bank of Ethiopia''. Thus, the pre-1931 currency could be considered the ''Abyssinian birr'' and the post-1931 currency the ''Ethiopian birr'', although it was the same country and the same currency before and after. 186 billion birr were in circulation in 2008 ($14.7 billion or €9.97 billion). History First birr, 1800–1936 In the 18th and 19th centuries, Maria Theresa thalers and blocks of salt called "amole tchew" (አሞሌ) served as currency in Ethiopia. The ''thaler'' was known locally as the ''Birr'' (literally meaning "silver" in Ge'ez and Amharic) or ''talari'' (ታላሪ). The Maria Theresa ''thal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Aid To Ethiopia
After World War II, Ethiopia began to receive economic development aid from the more affluent Western countries. Originally the United Kingdom was the primary source of this aid, but they withdrew in 1952, to be replaced by the United States. Between 1950 and 1970, one source estimated that Ethiopia received almost US$600 million in aid, $211.9 million from the US, $100 million from the Soviet Union and $121 million from the World Bank. Sweden trained the Imperial Bodyguard and India at one point contributed the majority of foreign-born schoolteachers in the Ethiopian educational system. This aid dried up under the military regime that followed the Ethiopian Revolution, except for food aid during the early- to mid-1980s famine. While the Soviet Union provided extensive amounts of aid, either directly or through its allies like East Germany and South Yemen, this was predominantly in the form of either military aid, or ideological education; these ended with the close of the Cold W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation By Country
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. A failure to pay in a timely manner ( non-compliance), along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent. Most countries have a tax system in place, in order to pay for public, common societal, or agreed national needs and for the functions of government. Some levy a flat percentage rate of taxation on personal annual income, but mos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
