Ministry Reconsiders Excise Tax Rate on Bottled Water

Eyob Tekalign (PhD state minister for Finance and Adanech Abebe, (right), minister of Revenues at the panel discussion held at Skylight Hotel on December 31, 2019. __by Gelila samuel______________________________________ Following strong resistance from water bottlers, the Ministry of Finance is reviewing a new excise tax rate imposed on bottled water. Through their association, water bottlers strongly opposed the 15pc excise tax imposed on the selling price of bottled water products. Drafted by the Finance Ministry, the bill was tabled to legislators in parliament a few weeks ago. Last week the Budget & Finance Committee of the parliament held a public hearing on the bill, which is going to replace the 17-year-old proclamation. Bottled waters are categorised under the commodities that have a negative effect on the environment. With the proposed rate, the price for a litre of water will climb to 11.5 Br. The initiative for reviewing the tax rate of bottled waters arises following the public hearing at the parliament and a panel discussion jointly organised by the Ministry of Finance and the Ministry of Revenues at Skylight Hotel. The discussion that was held on December 31, 2019, was attended by Eyob Tekalign (PhD), state minister for Finance, Adanech Abebe, minister of Revenues, Hiwot Mossia, state minister for Transport, and Eshete Asfaw, state minister for Trade & Industry.

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