ADDIS ABABA – Revenues Bureau of Addis Ababa honored 299 registered businesses in the city for paying their taxes in transparent and timely manner.
The Bureau honored the taxpayers on Sunday in a ceremony held at Entoto Park attended by top officials of the city administration.
In a statement today, the bureau said the recognition is aimed at encouraging the business community in the city to follow by example and pay their taxes in a timely manner during the 2020/21 budget year.
During the fiscal year, the City secured 42.6 billion birr revenues from taxes – the highest the bureau collected in the previous eight-year.
On Sunday, 299 top taxpayers were recognized for handling their balance sheets properly and paying taxes loyally in three categories.
About 47 loyal taxpayers have received the top honor, getting platinum awards from Jantirar Abay, deputy mayor of Addis Ababa.
The bureau also recognised 168 businesses with Gold and 84 others Silver awards.
– Tax revenues on the rise –
Recent reports put the number of registered tax paying businesses in the capital at 418,000.
Out of these, 73,294 are under the largest taxpayers group or category A while 45,875 taxpayers fall under category B or medium taxpayers.The remaining taxpayers, 298, 964 in number, are category C or small taxpayers.
Speaking at the event, head of the Revenue Bureau, Mulugeta Tefera, praised the city’s business community contribution for improving revenues as well as active role in various social responsibility issues.
He said more and more businesses are paying their taxes in a timely manner, boosting the revenues that are key for the city’s development.
In the past eight months of the 2021/22 FY, the Bureau has collected 39 billion birr revenues from taxes. The figure is about 5 billion birr more than the plan which was set at 34.06 billion birr.