WebPrinciples of Accounting II, Chapter 3 Ethiopian Payroll system 5 Employee income tax rate Ser. No. Monthly Income In Birr Applicable Income Tax Rate A B 1 0-600 Exempted 2 601-1650 10% 3 1651-3200 15% 4 3201-5250 20% 5 5251-7800 25% 6 7801-10,900 30% 7 10,901 and above 35% Generally, taxable income from employment includes salaries, … WebFor easy understanding, Ethiopian tax must be broken down into 2 major parts: Direct Tax, and Indirect Tax. Direct Taxes Direct Taxes are broken down further into Five parts: 1. Personal Income Tax
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Web… First Schedule Heading Tariff Number Description Excise Rate on Value 1. Fats and Oils 15.01 to 15.15 Edible animal or vegetable fats and oils and their cleavage products; with content of 40g or more saturated fat per 100g, or unable to determine level of saturated fat from label. 30% 15.16 Web565 Birr 6. 7,801 – 10,900 Birr 30% 955 Birr 7. Over 10,900 Birr 35% 1,500 Birr SAMPLE CALCULATION If the salary of an employee is 2,000 Birr. By referring to the above table, we can see that 2,000 birr falls in the No. 4 row. So, Tax Rate = 15% and deduction = 142.50 Income Tax = 300 Birr – 142.50 = 157.50 Birr Employee Pension = 2,000 Birr x 7% = … how big is a piece of lined paper
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WebThe rate of customs duty ranges from 0% to 35% with an average rate of 17 percent. In recent years, Ethiopia has reduced customs duties on a wide range of imports, including the removal of tariffs on agricultural equipment, but duties still remain high on certain items, such as vehicles. Other taxes may also be imposed on imports. Web1/ Subject to this Proclamation, a tax, to be known as excise tax, shall be charged in accordance with the provisions of this Proclamation on: a) excisable goods manufactured … WebApr 30, 2008 · A resident of Ethiopia or a permanent establishment in Ethiopia of a non-resident making a payment of a dividend, interest, royalty, management fee, technical fee, or insurance premium that is subject to non-resident tax shall withhold tax from the gross amount paid at the non-resident tax rate applicable to the income (as specified in Article ... how many numbers in account number bank