- Ministry of Revenue Adama Office issued notice on advance business profit tax payment.
Notice concerns first quarter of 2018 Ethiopian fiscal year.
Cites Income Tax Proclamation No. 1395/2017, Article 89/2/A.
Category “A” taxpayers must pay quarterly advance within 30 days after each quarter.
First installment equals 25% of 2017 tax paid.
Payment to be declared electronically via eTax under “Advance Quarterly Payment Advice–Schedule C.”
Late payment subject to interest and penalties.
Why it matters?
Advance quarterly payments affect cash flow planning for large taxpayers and increase short-term government revenue collection.