Is there Securities Regulation in Ethiopia?

Is there Securities Regulation in Ethiopia?

In general unlike other countries, Ethiopia doesn’t have a particular operational and regulatory framework to regulate securities market. investment advisors, auditing firms, lawyers, and others aren’t sufficiently regulated. Hence the public investor lacks confidence to participate in the public offering process.

What are the two most commonly used type of tax in Ethiopia?

In Ethiopia there are two types of tax. These are direct and indirect tax.

Which tax system is applicable in Ethiopia?

The Ethiopian Taxation system has two major categories: direct and indirect taxes. All tax types in the Ethiopian tax system are described and explained as follows. These are one type of taxes a company or individual pays directly to the government.

What is levies in Ethiopia?

Research in Brief 17 China levies a single national VAT, but distributes half the tax to provinces on the basis of the location from which supplies are made. The bifurcated Ethiopian VAT may be unique, with VAT administration and revenue being assigned on the basis of the legal status of businesses.

Is there Securities market in Ethiopia why why not?

Despite some of the acclaimed advantages of the stock exchange market for countries, Ethiopia is the only country of the world’s 15 most populous countries which does not have a stock exchange.

Is there Securities market in Ethiopia?

Recognizing the role that securities markets play in mobilizing capital, more than a dozen African countries have established stock markets. Ethiopia is not one of them. There is little current research which focuses on Africa’s securities markets.

What is the difference between TOT and VAT in Ethiopia?

As it stands the TOT rate is 10 percent for services and 2 percent for goods, while there is 15 percent VAT on items sold. Excise tax on the other hand is 35 to 100 percent.

How is income tax calculated in Ethiopia?

Here are the formulas on how to calculate personal (employee) income tax, pension, gross and net income in Ethiopia.

1. Salary Income Tax = (Gross Salary * Tax Rate) – Deduction.
2. Employee Pension – Gross Salary x 7%
3. Net Income = Gross Salary – Salary Income Tax – Employee Pension – Other Taxes (If applicable)

Who is eligible for turnover tax in Ethiopia?

Ethiopian government Proclamation No. 308/2002, TOT is applicable to any resident person whose turnover from business does not exceeds 500,000 during any year of income. Turnover tax is imposed on the supply of taxable goods and services by persons not registered for VAT.

What is excise tax Ethiopia?

The excise tax is applied to 19 specified classes of products identified by ECC. The value added tax (VAT) is a flat 15 percent tax on all imports, unless otherwise exempted. The surtax is a flat tax of 10 percent on all imports, unless otherwise exempted.

What is turnover tax in Ethiopia?

Turnover tax is charged under the Turnover Tax Proclamation at a rate of 2% on the supply of goods and services relating to contractors, grain mills, tractors and combine harvesters and at a rate of 10% on other services. Turnover tax is payable on goods and services supplied by persons who are not registered for VAT.

How can I buy shares in Ethiopia?

Let us show you how to invest in stocks from Ethiopia in four simple steps: 1) find an online broker; 2) open an account; 3) fund your account; and 4) buy the stocks you need.

What are the different types of taxes in Ethiopia?

The various taxes are dealt with separately in other categories on this website (Value Added Tax (VAT), Income Tax, Turnover Tax (TOT), Withholding Tax , Excise Tax, Capital Gains Tax, Rental Tax, Royalty Tax, Sur Tax on Imported Goods , and Stamp Duty) The following shows only the rates of the various types of tax in Ethiopia.

What is the financial system in Ethiopia?

Currently, the Ethiopian financial system consists financial institutions such as the National Bank of Ethiopia with aim to regulate the finance industry in the country, 17 commercial Banks ; 15 insurance companies; a public and private employed workers pension scheme; 33 Micro Finance Institutions.

What is the income tax proclamation of Ethiopia?

Income Tax Proclamation No. 286/2002 or 286/1994 EC and its amendment Income Tax (Amendment) Proclamation No. 608/2008 or 608/2001 EC Points of interest of the Income Tax Proclamation, Regulation 1) The Proclamation shall apply to residents of Ethiopia with respect to their worldwide income.

How important is the FINRA series 6 exam?

The relative importance of the topics that make up the exam. The FINRA Series 6 is a securities license entitling the holder to register as a company’s representative and sell certain types of mutual funds, variable annuities, and insurance.