Category: Ethiopia
Ethiopia arrested 105 businessmen over alleged tax evasion
About 105 businessmen are arrested over an alleged tax evasion in the capital Addis Ababa. Adanech Abebe, minister of the ministry of revenue, said over 135 businesses are identified for “plundering public resources and tax evasion,” according to a report by state affiliated FanaBC. The ministry claims the alleged tax… – Continue reading
Promote EAC trade, reduce taxes – CS
Taxation by county governments on transit goods is holding back plans to eliminate trade barriers between East Africa Africa Community countries, Cabinet minster Peter Munya said at the weekend. The Cabinet Secretary for East African and Northern Corridor Development said said double taxation will stiffle the growth of the East… – Continue reading
Ethiopia introduces new transfer pricing directive
Ethiopia recently adopted new transfer pricing rules in the form of Directive 43/2015 (“the Directive”) issued by the Ministry of Finance and Economic Development. The Directive provides detailed guidance as to the application of Article 29 of the Income Tax Proclamation (ITP) 286/2002, which requires taxpayers to ensure transactions between… – Continue reading
UK aid programme “failing to tackle tax avoidance and evasion”
A report by the Independent Commission for Aid Impact (ICAI) has criticised the Department for International Development’s (DfiD) approach to tackling tax avoidance and its alleged failure to achieve value for money on HMRC collaboration DfiD has failed in its efforts to fully include developing countries so that they benefit… – Continue reading
Ecuador Fights for Global Rules to Clamp Down on Tax Evasion
Ecuador’s foreign minister, leading economists and campaigners call for a new U.N. body to root out tax evaders and crack down on offshore havens. Ecuador ramped up its fight against tax dodging Wednesday as the South American country proposed a plan on the sidelines of the U.N. General Assembly in… – Continue reading
Singapore-Africa trade relations set to deepen with new agreements
Trade relations between Singapore and Africa are set to deepen, with several agreements signed on Wednesday (Aug 24) at the fourth edition of the Africa Singapore Business Forum. These include the signing of the Avoidance of Double Taxation (DTA) with Ethiopia, a bilateral investment treaty (BIT) with Mozambique and an… – Continue reading
Ministry of Finance hosts Ethiopian delegation
Obaid Humaid Al Tayer, Minister of State for Financial Affairs, received a delegation from Ethiopia at the Ministry of Finance headquarters in Abu Dhabi. The meeting was held to discuss investment opportunities and economic cooperation between UAE and Ethiopia. The agreement on the avoidance of double taxation on income signed… – Continue reading
Ethiopia: Unmet Demands of the G20
The creation of the Group of Twenty (G20) was believed to serve as a remedy to the harsh realities of the world today. The initial formation of the Group of Seven G7 could do little to avert pertinent challenges both the developing and the developed nations face frequently. So a… – Continue reading
BEPS tax reforms ‘cannot be the endpoint’, G20 told
The OECD’s base erosion and profit shifting (BEPS) reforms do not go far enough in changing the international corporate tax system, G20 leaders have been told. In a letter to leaders at the G20 summit in Antayla, Turkey, Nobel Prize-winning economist Joseph Stiglitz and others from the Independent Commission for… – Continue reading
Ireland’s Finance Bill 2015 – key changes for international companies and financial institutions
Following the recent Irish budget statement (the “Budget”), the Finance Bill 2015 (the “Bill”) has been published and it implements the changes announced by the Irish Minister for Finance (the “Minister”). The Bill includes additional detail on: the new knowledge development box (“KDB”); and Ireland’s implementation of country by country… – Continue reading
Ethiopia, Switzerland keen to bolster ties
Ethiopia and Switzerland have expressed their commitment to strengthen bilateral relations covering various regional and global issues of common interest, according to a joint statement issued on Tuesday by the two countries.The communiqué was released after talks between Swiss President Simonetta Sommaruga and Ethiopian Prime Minister, Hailemariam Desalegn, on Tuesday… – Continue reading
Tax Justice for Social Justice
By Martina Neuwirth and Thomas Kattnig [This blog article published on July 9, 2015 is translated from the German on the Internet, http://blog.arbeit-wirtschaft.at.] June 23 was the international day of public services. Did you know that? Provision of these services – water, hospitals, schools, culture, energy, streets, public transportation and… – Continue reading
Untapped funds can help pay for Sustainable Development Goals
Development Goals (SDGs) but poorer countries should exercise caution when borrowing money, Gail Hurley, a development finance expert with the UN Development Program (UNDP), told Xinhua. “There’s a lot more finance available now—public and private, domestic and international — (but) a lot of it is loan finance, so we do… – Continue reading
Political courage needed on tackling inequality
Government must make good on its vows, says Jamie Livingstone In less than two weeks, leaders from 193 states will meet at the United Nations in New York to formally adopt, in effect, a new plan to fight extreme poverty, tackle inequality and end hunger. The Sustainable Development Goals (SDGs)… – Continue reading
Tax collection in Africa rising
PRELIMINARY statistics on the 2015 African Capacity Report (ACR) released yesterday in Addis Ababa, Ethiopia showed that there were significant improvements in revenue collection over the last decade (2006-2015) in Nigeria and 44 other African countries. But despite the cheering news, the report said effective mobilisation of domestic resources in… – Continue reading
Polish Ministry of Finance publishes the text of the DTA that was recently concluded with Ethiopia
The Polish Ministry of Finance has published the text of the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income as concluded on July 13, 2015 between The Republic of Poland and the Federal Democratic Republic of Ethiopia (Hereafter: the… – Continue reading
Dictators and Billionaires Demand Creation of UN Tax Agency
As globalist forces and the international institutions they control openly prepare to plunder humanity’s wealth, Third World dictators and tax-funded “civil society” groups have stepped up their demands for a United Nations tax authority — supposedly to ensure that they all get their “fair share” of the loot from Western… – Continue reading
Rich countries rejected an international plan to let the UN help fight tax evasion
At a global summit that addressed how illicit financial flows interfere with reducing poverty, wealthy nations rejected a plan to expand the UN’s power to fight global tax evasion. The plan, promoted by developing economies and transparency groups, was the subject of the meeting between delegations of UN members from… – Continue reading
Ethiopia, Poland Sign Double Taxation Avoidance Agreement
Ethiopia has signed double taxation avoidance agreement with Poland on July 13, 2015, Ethiopian News Agency reported (ENA). The agreement was signed between Ethiopian Minister of Finance and Economic Development, Sofian Ahmed and Poland Minister of Finance, Mateusz Szczurek as the side event of the Third International Conference on Financing… – Continue reading
I call that robbery': Rich-poor tax dispute overshadows key UN development summit in Ethiopia
Tax avoidance by big companies costs Africa tens of billions of dollars in revenue every year, continent’s leaders say at big meeting in Addis. AS the world grapples to find the cash to end poverty and battle climate change, African leaders at a global development summit being held in Ethiopia… – Continue reading
World can end AIDS epidemic by 2030, finance conference hears
The world can end the AIDS epidemic by 2030, the United Nations said on Tuesday, highlighting global success in rolling out life-saving drugs over the last 15 years. The UN Millennium Development Goal to halt and reverse the spread of the disease has been achieved, said UNAIDS, the global body’s… – Continue reading
Poor Nations Push for Global Agency to Cut Company Tax Avoidance
Developing nations and advocacy groups at a United Nations conference in Ethiopia are pushing for a new global body to tackle tax avoidance by companies, a move opposed by richer nations. Responsibility for tax standards should be moved to the UN from the Organization for Economic Co-operation and Development, a… – Continue reading
Abbott government accused of watering down language on tax evasion ahead of Finance for Development meeting
The Abbott government has been accused of trying to water down language on tax evasion in a crucial document ahead of the UN’s Finance for Development meeting in Ethiopia next week. The Third International Conference on Financing for Development will be held in Addis Ababa, Ethiopia, from Monday next week…. – Continue reading
World looks to Ethiopia to break deadlock over financing new development goals
NAIROBI (Thomson Reuters Foundation) – Negotiators locked horns until 2 a.m. some nights in New York this past month, trying to agree on a way to finance the United Nation’s bold new global development agenda — without success. The disputed 31-page document is headed to the Ethiopian capital, Addis Ababa,… – Continue reading
Ethiopia, Côte d’Ivoire Sign MoU
The Ethiopian Investment Commission and Center for the Promotion of Investments in Cŏte ďIvoire (CEPICI) signed a Memorandum of Understanding (MoU) which would serve as a guideline to augment commercial exchanges,implement joint investment projects and boost economic cooperation among others, between the two countries. Speaking at Ethio-Ivorian Business and Investment… – Continue reading
Ethiopia, Brazil Conclude Avoidance of Double Taxation Agreement
Ethiopia and Brazil concluded an agreement for the avoidance of double taxation on profits derived from international air and shipping transport on June 22, 2015 in Brasilia, according to Fana Broadcasting corporate. H.E Ambassador Sinknesh Ejigu, Special Envoy, Ambassador Extra ordinary and plenipotentiary of the Federal Democratic Republic of Ethiopian… – Continue reading
Netherlands Revises Treaties To Support BEPS Work
The Government of Netherlands has successfully negotiated the inclusion of anti-abuse provisions, aimed at combating cross-border tax avoidance, in tax treaties with Ethiopia, Ghana, Kenya, Malawi, and Zambia. At present, talks are being held with another seven countries and new agreements with several other countries are expected to be concluded… – Continue reading
Govt’s will to bring back black money is on test
India’s stand will show many nations in Asia and Africa the way to regain ill-gotten wealth stashed outside their countries “We have no information on any accounts held by Indian citizens in banks in Switzerland, Liechtenstein, Dubai or any other country. We have no information on the names of persons… – Continue reading
Tax dodging bill is equitable move
LEGISLATION is needed to make multinationals pay their fair share if we are to help more people out of poverty, writes Jamie Livingstone. In the run-up to the General Election, Oxfam is urging politicians from all parties to commit to the introduction of a new Tax Dodging Bill within the… – Continue reading
iCreate and Convey team up to help global banks fast-track FATCA compliance
• Partnership creates end-to-end solution for enabling and ensuring FATCA compliance, including: data consolidation, indicia identification, additional KYC data/document capture, alerts/notifications and dashboards to monitor compliance, withholding calculations and remittance, and tax reporting. Banking analytics, risk and compliance pioneer, iCreate, today announced a strategic partnership with tax information reporting leader,… – Continue reading
