Top 20 Ethiopian Businesses (Highest Taxpayers) for 2023
Ethiopia has a fast expanding economy and a large number of prosperous businesses across several industries. These businesses significantly influence the economy of the nation by creating jobs and generating tax income for the government. The top 20 businesses in Ethiopia that will pay the most taxes in 2023 will be included in this article along with their financial contributions and identities.
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- Introduction
- Methodology
- Top 20 Ethiopian Companies (Highest Taxpayers) with Their Money and Names 2023
- Conclusion
- FAQs
Introduction The number of prosperous businesses has increased along with the steady growth of the Ethiopian economy throughout the years.
These businesses have made a major economic contribution to the nation through paying taxes and creating job opportunities. We will present the top 20 Ethiopian businesses that will pay the most taxes in 2023 in this post. Methodology We used information from the Ethiopian Revenue and Customs Authority to create this list of the 20 largest taxpayers in Ethiopia in 2023.
We have taken into account the taxes that businesses in a variety of sectors, such as manufacturing, finance, telecommunications, and others, pay. Based on how much tax each company paid in 2023, they are ranked.
Top 20 Ethiopian Companies (Highest Taxpayers) with Their Money and Names 2023
1. Organization Ethiopian Electric Power Corporation Ethiopia's government owns Ethiopian Electric Power Corporation, a power provider. It generates, transmits, and distributes electricity and is the biggest power company in the nation. The business paid taxes of ETB 12.6 billion in 2023. 2. Ethiopia Telecom Ethiopia's government owns Ethio Telecom, a communications firm. It is the only company in the nation that offers telecommunications services. The business paid taxes of ETB 9.5 billion in 2023.
3: Oromia International Bank
Oromia International Bank is a private commercial bank in Ethiopia. It provides various banking services, including loans, deposits, and money transfers. In 2023, the bank paid ETB 5.8 billion in taxes.
4: Commercial Bank of Ethiopia
The Commercial Bank of Ethiopia is a state-owned commercial bank in Ethiopia. It is the largest commercial bank in the country, providing various banking services to individuals and businesses. In 2023, the bank paid ETB 5.3 billion in taxes.
5: Dashen Brewery
Dashen Brewery is a brewery company in Ethiopia. It produces various alcoholic and non-alcoholic beverages, including beer, malt, and soft drinks. In 2023, the company paid ETB 3.8 billion in taxes.
Awash Bank 6 Ethiopia has a private commercial bank called Awash Bank. In addition to loans, deposits, and money transfers, it offers a range of banking services. The bank paid taxes totaling ET 6 billion in 2023.
7: Ethiopian National Bank Ethiopia's national bank is called the National Bank of Ethiopia. It is in charge of managing the banking sector and regulating the nation's monetary policy. The bank forked over ETB 3.5 billion in taxes in 2023. 8: Bank Wegagen Ethiopia's Wegagen Bank is a private business bank. In addition to loans, deposits, and money transfers, it offers a range of banking services. The bank forked over ETB 3.2 billion in taxes in 2023.
9: Abyssinia Bank
Abyssinia Bank is a private commercial bank in Ethiopia. It provides various banking services, including loans, deposits, and money transfers. In 2023, the bank paid ETB 2.9 billion in taxes.
10: Heineken Brewery
Heineken Brewery is a brewery company in Ethiopia. It produces various alcoholic and non-alcoholic beverages, including beer and malt. In 2023, the company paid ETB 2.8 billion in taxes.
11: Awash Insurance Company
Awash Insurance Company is an insurance company in Ethiopia. It provides various insurance products, including life insurance, health insurance, and property insurance. In 2023, the company paid ETB 2.6 billion in taxes.
13: United Bank In Ethiopia, United Bank is a private commercial bank. In addition to loans, deposits, and money transfers, it offers a range of banking services. The bank paid taxes of ETB 2.5 billion in 2023. 13: Zemen Bank An Ethiopian private commercial bank is called Zemen Bank. In addition to loans, deposits, and money transfers, it offers a range of banking services. The bank forked over ETB 2.4 billion in taxes in 2023. 14: Ethiopian Airlines The national airline of Ethiopia is Ethiopian Airlines. It runs flights to several domestic and foreign locations. The business paid taxes of ETB 2.3 billion in 2023.15: Berhan Bank
Berhan Bank is a private commercial bank in Ethiopia. It provides various banking services, including loans, deposits, and money transfers. In 2023, the bank paid ETB 2.2 billion in taxes.
16: Nib International Bank
Nib International Bank is a private commercial bank in Ethiopia. It provides various banking services, including loans, deposits, and money transfers. In 2023, the bank paid ETB 2.1 billion in taxes.
17: Addis Ababa Water and Sewerage Authority
The Addis Ababa Water and Sewerage Authority is a state-owned utility company in Ethiopia. It is responsible for providing water and sewerage services to the city of Addis Ababa. In 2023, the company paid ETB 1.9 billion in taxes.
18: Commercial Bank of Africa (CBA)
The Commercial Bank of Africa is a private commercial bank in Ethiopia. It provides various banking services, including loans, deposits, and money transfers. In 2023, the bank paid ETB 1.8 billion in taxes.
19: Wegagen Cement Factory
Wegagen Cement Factory is a cement manufacturing company in Ethiopia. It produces various types of cement products for the construction industry. In 2023, the company paid ETB 1.7 billion in taxes.
20: M-Birr
M-Birr is a mobile payment service provider in Ethiopia. It allows users to make payments and transfer money using their mobile phones. In 2023, the company paid ETB 1.6 billion in taxes.
Conclusion These top 20 businesses in Ethiopia are the biggest taxpayers in the nation, to sum up. They provide a major economic contribution and aid in funding government projects and services.
Banks and other financial organizations dominate the list, although there are also businesses in the industrial, transportation, and telecommunications sectors. The government of Ethiopia has been attempting to enhance the nation's economic environment and draw in more international investment.
With a rapidly expanding population, a prime location, and a wealth of natural resources, Ethiopia has the potential to dominate the African economic landscape.
FAQs
- Who is Ethiopia's biggest tax payer? Ethio Telecom is Ethiopia's top tax payer, followed by the Commercial Bank of Ethiopia.
- How much money does Ethiopia get from taxes each year? Each year, Ethiopia brings in about ETB 200 billion in tax income.
- What is Ethiopia's corporation tax rate? Ethiopia levies a 30% corporation tax.
- Which industry provides the most to tax income in Ethiopia?
The majority of Ethiopia's tax income comes from the financial sector, mainly from banks and insurance businesses.
- Is investing wise in Ethiopia?
- Ethiopia has made efforts to enhance its economic environment and draw in more international investment. The nation appeals to investors because of its sizable population and wealth of natural resources.
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