A new directive has been issued by the Ministry of Finance, giving a new direction on the treatment of items exempt from Value Added Tax (“VAT”). With the intent to relieve certain economic stress observed in society, the Ministry of Finance (“MoF”) has revisited the exemptions of items from VAT. The Directive issued by the...Read More

The Addis Ababa City Administration has issued a directive (Directive No. 7/2024) governing the administration and supervision of the rental of residential houses in the city. The Directive is issued pursuant to Article 29(2) of The Residential Housing (Property) Rent Control and Administration Proclamation No. 1320/2024, having the primary aim of standardizing rent agreements by...Read More

Major changes are coming to the Ethiopian banking sector as the Council of Ministers approved a draft banking proclamation in its 35th ordinary meeting on June 14, 2024. This draft legislation, prompted by advancements in technology and the national economic landscape, paves the way for significant foreign participation in Ethiopian banking. As such, deliberations were...Read More