Government Cancels Over 294 Million Birr Fine Imposed On Business Firms

Addis Ababa, July 22(ENA)-- The government has cancelled an over 294 million Birr fine imposed on governmental and private business firms for failing to pay tax arrears on time, the Ministry of Revenue said.

Some 146 state and private enterprises have benefited from the cancellation that has also enabled the government to collect 70 million Birr in tax arrears from them, it said.

The measure was taken in accordance with the issuance of a directive enabling business firms be free of the fine if they pay on time their tax arrears they owed to the government until 1992 E.C.

The ministry has also collected nearly 5.1 billion Birr in revenue from various taxes, import and export duties as well as sale of lottery ticates in nine months over the just-ended Ethiopian fiscal year.

According to the ministry, the amount secured between July 2002 and March 2003 was less by nearly 1.1 billion Birr from that of the target and excelled that of the amount obtianed last year same period by 47.6 million Birr.

It attributed the decrease in the amount to the exiting drought and slow trade activities, among others.