The Customs Commission issued a circular outlining the tax and duty details for basic commodities in response to the government’s recent decision on Franco-Valuta privileges for basic food commodities.
The government’s decision is intended to allow Ethiopians with foreign residency permits to help fight rising inflation by granting them Franco-Valuta privileges.
In economics, inflation occurs when an economy expands because of increased spending but not as a result of increased goods and services production. In plain language, Ethiopia’s official currency, the birr, has been devalued as a result of the current high inflation shocks. The currency would be unable to purchase as much as it once could.
Oil, wheat, sugar, infant milk, and rice are among the most basic food commodities granted to Franco Valuta.
Find the taxes and duties following these link (PDF – Amharic)
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