KEYIR NEWS:- The Ministry of Revenue reported a total of 815.34 billion Br in tax revenues collected over the first 11 months of the 2024/25 fiscal year, achieving its annual target ahead of schedule.
The announcement was made during a review session held by the House of People’s Representatives’ Standing Committee on Planning, Budget and Finance.
Revenue Minister Aynalem Nigussie presented the performance report, noting that the collection represented a 100pc achievement rate compared to the targeted 814.7 billion Br. The amount collected was 349.33 billion Br higher than the figure recorded during the same period last fiscal year.
The report attributed the increase in tax revenue to improved collection mechanisms and stronger compliance measures across both domestic and foreign trade streams.
The Ministry noted particularly strong performance in foreign trade taxes, where 414.44 billion Br was collected against the 403 billion Br target. This reflects a performance rate of 116.96pc compared to the same period in the previous fiscal year.
Aynalem also expressed confidence that the full-year revenue goal of 900.27 billion Br would be met by the end of the current fiscal period.
Officials at the hearing emphasized that tax collection remains a critical component of the federal budget, with ongoing reforms aimed at enhancing efficiency in tax administration and curbing illicit trade practices.
The Customs Commission, which operates under the Ministry of Revenue, also presented its report during the session. It highlighted continued efforts to digitize customs operations, streamline clearance procedures, and strengthen enforcement measures at key checkpoints.
The Ministry is expected to submit a final year-end performance review following the close of the 2024/25 fiscal year.