Category: Ethiopia

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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,...