Did you know?

Did you know, a company upon requesting for a Business license will be requested to return its Investment license? But if the company has not finalized investment/expansion, it will be requested to conduct payment for duty on the imported materials, although the company is well within the time limit to benefit from the duty-free import incentives for investments. A company should always communicate and receive a document from the Ethiopian Investment Commission that approves the change of licenses and authorizes the company to conduct additional investment and still receive incentives without the investment license for the initially set period.

With the involvement and frequent communication by the Embassy of the Kingdom of the Netherlands to the Ethiopian Investment Commission, Ethiopian Ministry of Agriculture and Ethiopian Ministry of Finance, a Dutch company was authorized to import its products duty free after it was denied its duty-free import incentive. The process took a few weeks but an exceptional approval was finally given to the company by the Ethiopian Ministry of Finance, although the company had to pay an amount to cover the demurrage fee.

Need help with a similar situation your company is facing, or would you simply like to inquire more information please reach us via ADD-LNV@minbuza.nl