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China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Addis Standard
The Ethiopian Ministry of Finance (MoF) approved the import of duty-free imported agricultural mechanization, irrigation and animal feed technologies.
The Ethiopian Agricultural Transformation Agency (ATA) worked closely with the Ministry of Agriculture (MoA) to draft a tax reform policy through cost-benefit analysis and identified and listed the equipment to be imported tax-free.
"Based on the study recommendation by ATA, the Agricultural Transformation Council provided direction to facilitate farmers' access to agricultural technologies which will ensure food security at the household level and national nutrition development, the MoA formally submitted the tax wavering request in December 2018," ATA said.
This tax reform is aimed at enhancing the agriculture sector by removing duty and taxes on imports of farming machinery, irrigation and drainage equipment as well as animal feed ingredients and technologies; providing incentives to invest in the importation and local production of these technologies.
Ethiopia is an inland plateau in eastern Africa, and agriculture plays a pivotal role in the development of its national economy. Ethiopia is a country dominated by agriculture, with agricultural output accounting for about 40% of GDP and industrial output accounting for only 15%.
