Ethiopia offers tax relief for companies affected by the Fallout virus (Bloomberg) in Tadias magazine

Cleaning staff disinfects a subway car as a measure against the spread of the coronavirus in Addis Ababa on March 20. (Photographer: Michael Tewelde / AFP via Getty Images)

Bloomberg

By Samuel Gebre

Updated: May 2, 2020

Ethiopia has offered a tax relief to companies affected by the consequences of the coronavirus, state television reported, citing the finance minister.

Interest payments and penalties on outstanding taxes due between 2015 and 2018 will be paid in full and the underlying tax can be paid in installments, the Ethiopia Broadcasting Corporation reported, citing Eyob Tekalign, the state finance minister. Companies affected by Covid-19 will also receive relief for four months of income tax.

The government will also grant a one-month grace period for the payment of value added tax and payments of turnover tax. Companies that pay their taxes in a lump sum will receive a 10% discount and there will be up to a 20% discount for companies that donate to the Covid-19 response, EBC reported.

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