Ethiopia jails 105 traders for tax fraud

UPDATED– The Revenue Ministry of Ethiopia today announces arresting 105 traders suspected of tax fraud amounting 14 billion birr (about $496.5 million). Most are importers and wholesalers.

This is indicated by Adanech Abebe, Minister of Revenue of Ethiopia, who briefed reporters this morning. Out of the 105 suspected of tax fraud, 64 are following their case in the court, according to Minister Adanech.

The Minister indicated that a total of 135 companies have been identified for tax fraud and embezzlement of public wealth. She stated that the audit of her ministry proved that 57 companies were engaged in tax fraud.

The Ministry has conducted the audit and investigated the tax fraud over the last five months. The investigation shows that 70% of the 135 tax fraud suspects are wholesale and importers. The remaining 30% are engaged in retail businesses, according to the audit of the Ministry.

EDITOR’S NOTE: Dear Reader, we have revised the figure in this story twice. We had to revise the figures twice because of misunderstanding the statement made by the minister. We apologize for the inconvenience.