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Ethiopia seals deal with India to avoid double taxation

Postby revolutions » 07 Apr 2012, 21:30



Great! Now Indian land-grabbers won't have to pay a single dime in taxes to Ethiopia. If these foreign land-grabbers have their companies registered in countries where there's no capital gains tax, such as Kenya for example, they will escape tax altogether. Brilliant ! Indians will celebrate this day for the next 99 years !


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Ethiopia seals deal with India to avoid double taxation

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WSN Staff Posted April 6, 2012

Ethiopia has signed double taxation avoidance pacts with four countries, including its growing trading partners India and China. The agreements, also with Sudan and Egypt, were together tabled in the House of Peoples' Representatives for approval Thursday. The Double Taxation Agreements (DTAs) are expected

Ethiopia has signed double taxation avoidance pacts with four countries, including its growing trading partners India and China.

The agreements, also with Sudan and Egypt, were together tabled in the House of Peoples’ Representatives for approval Thursday. The Double Taxation Agreements (DTAs) are expected to come into force once they are approved by parliament which could take up to three weeks.

According to the Ministry of Finance and Economic Development (MoFED), the agreements allow investors not to pay double tax on the same declared income, thus saving businesses coming from India, China, Sudan and Egypt from paying income tax twice.

A memo MoFED attached with the bill says the avoidance doesn’t cover other types and indirect taxes a country may levy other than income tax. In case of withholding taxes, Ethiopia agrees with the partners to share revenues.

Ethiopia also agrees with the four countries to encourage investment flow by granting a tax holiday to investments in selected sectors as part of the deal. The selected areas are to be determined in followup negotiations. Taxes on fixed assets would be paid by the hosting country.

The latest deals, each with some unique aspects for every country, stipulate that the relevant authorities of the countries will exchange information about tax declarations from businesses who want to capitalise as per the countries’ agreement. This is hoped to ease efforts to investigate any anomalies that might indicate tax evasion.

It is not unusual for a business or individual who is a resident in one country to make profits in another where he has investments. This person may find that he is obliged by domestic laws to pay tax on that gain locally and pay again in the country in which the gain was made.

Since this discourages investors from opening businesses abroad, many nations, over the recent past, have inked bilateral double taxation avoidance agreements with each other. Ethiopia has also concluded similar agreements with other countries previously.

There are an estimated 2,500 double taxation avoidance treaties across the globe.

http://www.wespeaknews.com/world/ethiop ... 44064.html
Last edited by revolutions on 07 Apr 2012, 21:45, edited 1 time in total.



Re: Ethiopia seals deal with India to avoid double taxation

Postby yoha » 07 Apr 2012, 21:38


Let us prepare to ware TURBANS {pumper} in our Head then



Re: Ethiopia seals deal with India to avoid double taxation

Postby Deqi-Arawit » 07 Apr 2012, 21:56


What is the gain for Ethiopia and Ethiopians, if Patriotic foreign investors prefered to pay their income or corporat tax in their country of origin? :shock: Antum sebat...Some one needs to teach the [deleted] some basic economy before they start selling humanbeings for a dime. Plus..Any developing country should be protective of its market to encourage and give domestic companies some advantage against giant foreign companies.



Re: Ethiopia seals deal with India to avoid double taxation

Postby Fed_Up » 07 Apr 2012, 22:11


Deqi
Why you burn your brain cell brother? Most Ethiopians are busying wether they have organize or not. Imagine it has been 20 years ,and they are thinking about it. and still lots of Ethiopians are sticks their nose on Eritreans [deleted] and unable to see their country has been sold out not to Eritrean but for the people who don't have an ounce of blood to related with. once after they unplug their nose from Eritrean arse they will meet the reality.....their ancestors land had been taken and the woyannies already moved to Mars.

For now please leave them alone to organize....




Re: Ethiopia seals deal with India to avoid double taxation

Postby Deqi-Arawit » 07 Apr 2012, 22:20


Fed_Up wrote:Deqi
Why you burn your brain cell brother? Most Ethiopians are busying wether they have organize or not. Imagine it has been 20 years ,and they are thinking about it. and still lots of Ethiopians are sticks their nose on Eritreans [deleted] and unable to see their country has been sold out not to Eritrean but for the people who don't have an ounce of blood to related with. once after they unplug their nose from Eritrean arse they will meet the reality.....their ancestors land had been taken and the woyannies already moved to Mars.

For now please leave them alone to organize....


I am grateful to the almighty God that we are not in Good terms with the [deleted]....Other ways, the Amhara would have blamed every misforturne which is unfolding in Ethiopia currently on us...If you ask me, this is a blessing in disgust.



Re: Ethiopia seals deal with India to avoid double taxation

Postby Fed_Up » 07 Apr 2012, 22:21


I am 100%sure yebandamerz and minilik will approved this kinds business will be benefited Ethiopia in near future. I mean after 99 years. Hehehehehe.

OMG!

This gangs focked Ethiopia beyond repair. ( pardon my French)



Re: Ethiopia seals deal with India to avoid double taxation

Postby Fed_Up » 07 Apr 2012, 22:26


Deqi-Arawit wrote:
Fed_Up wrote:Deqi
Why you burn your brain cell brother? Most Ethiopians are busying wether they have organize or not. Imagine it has been 20 years ,and they are thinking about it. and still lots of Ethiopians are sticks their nose on Eritreans [deleted] and unable to see their country has been sold out not to Eritrean but for the people who don't have an ounce of blood to related with. once after they unplug their nose from Eritrean arse they will meet the reality.....their ancestors land had been taken and the woyannies already moved to Mars.

For now please leave them alone to organize....


I am grateful to the almighty God that we are not in Good terms with the [deleted]....Other ways, the Amhara would have blamed every misforturne which is unfolding in Ethiopia currently on us...If you ask me, this is a blessing in disgust.


I agree.

You know I have never in my wildest dream the listrose have such hate towards Ethiopian, specially towards amhara ethnic.



Re: Ethiopia seals deal with India to avoid double taxation

Postby revolutions » 07 Apr 2012, 22:30


yoha wrote:Let us prepare to ware TURBANS {pumper} in our Head then


:cry: :cry: :cry:



Re: Ethiopia seals deal with India to avoid double taxation

Postby Gurezza » 07 Apr 2012, 23:20


The new born babays name in woy-anuse governing land is,
Getchew ShasKapure
AmdeBerhane ShamiKapoor
Genet Patel
Kiros Krishna
Belaynesh Balarkasadrushakara
Awetash Chaturbhuja

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