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Ethiopia to scrap import taxes on new vehicles?

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03/09/10

  03:21:14 am, by admin, 332 words  
Categories: Ethiopia

Ethiopia to scrap import taxes on new vehicles?

Ethiopia to scrap import taxes on new vehicles?

Rumor causes deflation in used-car market

Source: Capital

A rumor about Ethiopian government plans to eradicate surtaxes and excise taxes on new vehicle imports has dramatically deflated the city's used-vehicle market over the last two weeks. Traders believe discouraging used vehicles has been the government's plan for many years and now they have decided to scrap the two taxes on new imports.
The decision has already been made, but it has not been implemented yet, an individual in the industry told Capital.

The rumor has prompted traders to reduce prices by an average of 30,000 birr on used vehicle within the last fortnight. Secondhand Atoz cars, which are known for their fuel efficiency, cost 60,000 birr some five years ago, however, inflation, foreign currency shortages and others factors hiked their price to 120,000 birr until one month ago. But now the rumor has sent the price back down to 85,000 birr.

"If we maintain the current price it mess up our business because elimination of the two tax types means a lot to new vehicle importers," the businessman told Capital.
However, statements coming from the government do not corroborate the rumor.

"I am surprised with the rumors and the market, because I am the one to be aware about such plans of the government," Yared Tewolde, who is in charge of the ministry's tariff and price director of the Revenue and Customs Authority, confirmed to Capital.
Yared said the situation forced him to call Ministry of Finance and Economic Development (MoFED), the responsible body for imposing and reducing taxes, but the responsible department was also in the dark about the rumors.

"I have been not told to execute any plan and there is no such plan with the ministry" Yared confirmed.

But importers of new vehicles were called by MoFED a few weeks ago to discuss import tax issues, a businessman who attended the meeting told Capital.
Capital's attempts to speak to the legal department of MoFED failed.

26 comments

1 2 >>

Comment from: gebre [Visitor]
gebre

If its true,its good for the consumers and who wants to buy an old land cruiser for 500,000birr and an old rigged corolla for more than 200,000birr.

03/09/10 @ 06:33
Comment from: bete mengist [Visitor]
bete mengist

what kind of car is ATOZ? does it mean ato zenawi? hahaha….

03/09/10 @ 06:39
Comment from: Ambasel Esq. [Visitor]
Ambasel Esq.

If this is true, this is a great news for all Ethiopians, to send cars for there private use and without any penaltys imposed on them. If any one has been in Addis lately, the first thing as priority will be shelter and most of all is your own transport car that you need to take from A-B in your own time. So with proper procedue in place so some (few) can’t abuse the system for there own greed like they did before and messed it for the rest. I’m sure this will allow peopel to fill confident enough to invest or settle again without immunity on them.

Hope good sence will prevail at last with a bit of luck and luck we’ll need to this time around.

03/09/10 @ 07:36
Comment from: Rahel [Visitor]  
Rahel

Its a good news i hope its not just a rumor

Cheers
Rahel

03/09/10 @ 08:57
Comment from: nebil [Visitor]
nebil

To Bete Mengest… ATOZ is a Hyandia brand..they are everywhere back home..they r pretty new nice models and like the article says are fuel efficient ones…but u only see women driving them..the guys tell u it is too girlish for them to drive..seriously :)

03/09/10 @ 09:20
Comment from: sami1 [Visitor]
sami1

EPDRF members will be hinted to order quik or alrady ordered it once thiers is in and few more tax will come back!
TRIK!

03/09/10 @ 09:47
Comment from: Nahom [Visitor]
Nahom

GUY DO YOU KNOW THE OTHER NAME FOR ATOZ? >:XX IT IS NAMED LIKE THAT B/C RICH PEOPLE IN ETHIOPIA BUY THAT CAR FOR THEIR MISTRESSES!..LOL.. IT IS NOT A JOKE, I EVEN KNOW 3 OR 4 PEOPLE THAT BOUGHT THE CAR FOR THE REASON..

03/09/10 @ 09:52
Comment from: Nahom [Visitor]
Nahom

@Sami 1, you are definetly right! I think you and I have been in Ethiopia or know how the government works there.. This tax reduction is only for the time being, after some of their members bring in some cars they will bring the price up.. This is not a new thing for them to do, they always do things like this..Always!

03/09/10 @ 09:59
Comment from: Tesfaye [Visitor]
Tesfaye

Let the Eritreans(jealouss) see it in diffrent angle!
Tell them it is in Ethiopia not in Eritrea.
KELAS!!!

03/09/10 @ 10:23
Comment from: Tefera [Visitor]
Tefera

Comment from: bete mengist [Visitor]
what kind of car is ATOZ? does it mean ato zenawi? hahaha….
:)):)):)) thats funny.

03/09/10 @ 10:49
Comment from: GoGo [Visitor]
GoGo

Nahom,

You got that right…Also when a guy drives it, they call him “ASMELASH"…cause he is a man enough to get his Atoz back after he bought it for the woman when their relationship ends :)

03/09/10 @ 11:17
Comment from: Yonas [Visitor]
Yonas

Yared Tewolde, who is in charge of the ministry’s tariff and price director of the Revenue and Customs Authority.
Can you guys (Woyanes) share the power to the others? Every director on places of benefit is a TPLF. And, you come out and preach about the equality of nations and nationalities.

03/09/10 @ 11:46
Comment from: Asmelash [Visitor]
Asmelash

Do you know that, If a man is seen driving Atoz in Addis, he is called “Asmelash” cos that car is a favorite gift to a woman from a man and it means he Got it back:D.

03/09/10 @ 11:46
Comment from: Asmelash [Visitor]
Asmelash

go go,
sorry I didn’t see your post, or you posted it while I was typing. Are you a typist?

03/09/10 @ 11:50
Comment from: Fegou [Visitor]
Fegou

New cars means less pollution .. good for the country..

03/09/10 @ 12:24

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rebtel

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