Addis Ababa: The Ministry of Revenue of Ethiopia has announced a significant achievement in tax collection for the 2023/24 fiscal year, with over 512 billion Birr collected, according to a statement made during a high-level meeting in Arba Minch city, South Ethiopia Region. Minister of Revenue, Aynalem Niguse revealed that the ministry achieved 96.8 percent of its annual target, collecting 512.82 billion Birr out of a planned 529.3 billion Birr. This marks a substantial increase from the previous fiscal year, with direct taxes and non-tax sectors showing a 70.8 billion Birr growth. "Our success can be attributed to the implementation of modern tax administration systems and enhanced compliance efforts," Minister Aynalem stated. She highlighted the ministry's focus on developing new procedures supported by advanced technologies and improved awareness campaigns. The Minister also acknowledged the role of a newly implemented tax and customs law compliance initiative, carried out in collaboration with various stakeholders. This campaign ensured better implementation of tax and customs processes across business activities. In a show of appreciation, Aynalem thanked importers, exporters, and general taxpayers who accurately reported and paid their taxes on time. At the local level, Arba Minch City Administration reported collecting over 300 million Birr in revenue. Mayor Gezahegn Gamo attributed this success to maximizing internal capacity and engaging stakeholders effectively. "Our revenue mobilization efforts, guided by the principle 'Institutional Excellence, Revenue Success,' are not only boosting our local economy but also making us significant beneficiaries of national development," Mayor Gezahegn explained. The ongoing consultation in Arba Minch City is being attended by senior officials including the Commissioner of Customs Commission, Debele Kabeta. This record-breaking revenue collection underscores Ethiopia's commitment to strengthening its financial capacity and supporting national development initi atives. As the country continues to modernize its tax systems and improve compliance, it sets a positive trajectory for sustainable economic growth. The Ministry of Revenue and Customs Commission will continue their deliberations in Arba Minch, aiming to build on the concluded year's success and set ambitious targets for the coming fiscal year. Source: Ethiopian News Agency