Wednesday, January 19, 2022
Sinopia - Banner Ad for Capital Ethiopia
Sinopia - Banner Ad for Capital Ethiopia
previous arrow
next arrow
Shadow
HomeNewsMoF revises tariff book

MoF revises tariff book

Ministry of Finance (MoF) revises the tariff book that shows massive rate changes on industrial inputs and some basic commodities.
The tariff book that issued on Friday has 371 pages and includes over 8, 000 items.
On its twits, the ministry said that in order to encourage the growth of the manufacturing sector in Ethiopia, the tariff book with over 8,000 line items for raw material, intermediate goods, and capital goods has been revised.
Capital reviewed the book in which most of the industrial materials rest either on zero tariffs or mostly on the least tariff of five percent.
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes, ores, slag and ash, inorganic chemicals organic chemicals are some of the industrial inputs that rested on free from tariff except some of the items which are mainly included under five percent.
On its statement MoF said that the tariff change has focused on agriculture and the manufacturing sectors in order to support them on local production and import substitutions.
The tariff revision has been conducted under a committee that comprised members from different ministries including MoF, Ministry of Trade and Industry, and Ministry of Revenue.
The revision has also considered easing finished goods but basic necessities.
The statement of MoF said that the book has also considered encouragement of local production against similar import items.
“It states that products that are produced locally with competitive capacity and quality with imported items have got preferential treatment whilst imported items have been imposed with high tariff,” it added.
The book is expected to be aligned with the ten year economic plan of the country.

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments

ART, LAW & OPEN BORDERS! – Al Nejash Media on ART, LAW & OPEN BORDERS!
Be original – Al Nejash Media on Be original
[09.15.2018.00:15] Russian, Turkish presidents to discuss Idlib on September 17 – 含的兒子是古實、麥西、弗、迦南。 7 古實的兒子是西巴、哈腓拉、撒弗他、拉瑪、撒弗提迦。拉瑪的兒子是示巴、底但。 8 on MetEC outsources electromechanical work of GERD to Chinese firm
ART FOR HEALING – Al Nejash Media on ART FOR HEALING
BREAKING NEWS: Azeb Asnake removed from EEP – Al Nejash Media on BREAKING NEWS: Azeb Asnake removed from EEP
Big fish Getaneh Kebede signed with Saint George – Al Nejash Media on Big fish Getaneh Kebede signed with Saint George