House Approves Newly Revised Income Tax Proclamation

0
908

The house of people’s representative(HPR)  approved the newly revised income tax proclamation, tax administration, business registration and licensing proclamation.

Addis Ababa, July 26, 2016, In an urgent meeting it held today, the House of People’s Representatives (HPR) approved the newly revised income tax proclamation.

Accordingly, the House decided the new income tax proclamation to be effective as of Ethiopia’s new budget year.

The House also approved the newly revised tax administration and business registration and licensing proclamation.

Moreover, it endorsed the draft proclamations prepared to amend establishment of auditor general office and geothermal resource development.

See the tax rate below:

Employment income (Per Month-birr)

Income tax payable

0-585

0%

586-1,650

10%

1,651-3,145

15%

3,146-5,195

20%

5196-7,758

25%

7759-10,833

30%

Over 10,833

35%

 

Tax payable on rented houses and enterprises

Taxable Income from rental (Per year-birr)

Income tax payable

0-7,000

0%

7001-19, 300

10%

19,301-37,750

15%

37,751-62350

20%

62,35-93, 100

25%

93,101-130,000

30%

Over 130,000

35%