The Ethiopian Ministry of Revenues reports that it has collected more than 107 billion ETB (2.8 billion USD) in taxes during the first quarter of the current fiscal year which began on July 8th. The amount collected is 17 million ETB more than the amount during the same period last year.
At the press conference where the Minister of Revenue Lake Ayalew gave the report, reporters also learned that of the 107 billion ETB collected, 75 billion ETB came from the domestic tax revenue and 37 billion ETB came from import tax.
The Minister also asserted that the current revenue of the Ministry is in line with trends ever since Ethiopia began rapidly reforming its financial sector.
At the end of the previous fiscal year the Ministry had reported that Ethiopia’s tax revenue had increased by more than 18 percent compared to the year before that despite the economic stagnation and uncertainty caused by the pandemic.