Govt’s Tax revenues in May up by 28% to Over 34.5bln Birr
ADDIS ABABA – Ministry of Revenues collected close to 34.6 billion Birr in tax and related revenues in May, up by over 28.58 % from a similar month last year.
Tax authorities’ target for the month was to secure 33.09 billion Birr and went on to collect 34.59 Billion Birr, achieving 104.5% of the plan.
The total revenues showed a 7.69 Billion Birr increase from the same period last year, the Ministry of Revenues monthly report revealed on Wednesday.
Domestic tax sources contributed much of the monthly revenues bringing in 18.8 billion Birr for the government.
The figure was not only over a billion birr higher than last year but also surpassed authorities’ target by 5.13 Billion Birr (37.57%).
The ministry also reported higher-than-expected revenues from export tax and customs duties that contributed 15.8 billion Birr to the total monthly tax revenues, up by 19.31% (2.56 Billion Birr) from May 2022.
Revenues minister Aynalem Nigussie extended her appreciation to taxpayers and collectors and officials of the Ministry for the “successful performance” of last month.
They should continue to play their part during the rest of the tax season to achieve the target set for the year, the minister noted.
The Ministry plans to secure 450 Billion Birr in tax revenues in the 2022/23 fiscal year. Domestic direct taxes are expected to contribute 266.9 Billion Birr and taxes on export trade generate 183.3 Billion Birr.
