Economy
New Regulation Mandates VAT Registration for Professional Service Providers
The Reporter (Amharic) · 2 hours ago · Read the Full Story on The Reporter (Amharic)
AI SUMMARY
The Council of Ministers has approved an amendment to VAT Regulation No. 570/2017 to explicitly require professional service providers who maintain books of accounts to register for Value Added Tax.
- The Council of Ministers approved the Value Added Tax amendment regulation during its 59th regular meeting on September 28.
- The regulation revises the previous VAT Regulation No. 570/2017 enacted in 2024/25.
- The amendment resolves previous ambiguities by explicitly mandating VAT registration for professional service providers who maintain books of accounts.
- The change ensures that taxpayers who previously collected Turnover Tax, which has been abolished, now register for VAT.
- The Council also approved an amendment to Income Tax Regulation No. 410/2009.
- Drafts to amend Defense Forces Proclamation No. 1286/2015 and establish a national data administration were referred to the House of Peoples' Representatives.
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