Ethiopia’s Ministry of Revenues has secured $3.9 billion from tax and non-tax revenues in the past seven months, achieving 92.4% of its plan.
The figure has shown a $500 million increase as compared to the amount obtained in the same period last fiscal year, said Lake Ayalew, the country Minister of Revenue on Monday.
The largest revenues of the total amount, or nearly $2.4 billion, came from domestic taxes.
The remaining $1.5 billion was collected from export taxes and customs duties.
The total revenues is still $320 million short of the Ministry’s plan, set at $4.2 billion for seven months beginning July 8, 2021
“Considering that four of the Ministry’s branches were inactive due to security-related challenges and the impact of the Covid-19 pandemic, we believe that it was an excellent performance,” explained the Minister in a short report posted on his Facebook page.
The ministry plans to obtain $6.4 billion from tax and non-tax revenues this 2021/22 fiscal year.
Last year, the ministry garnered $5.6 billion of the planned $5.8 billion despite the impact of Covid-19 pandemic and the war in Northern Ethiopia.
MG/abj/APA