Ethiopia’s ministry of finance has announced that governments of Ethiopia and Switzerland have, today signed a deal to avoid double taxation in Addis Ababa, Ethiopia.
Ethiopia’s Minister of Finance Ahmed Shede said, “The purpose of the agreement is to encourage Swiss investors to invest in Ethiopia and enable Ethiopian investors to participate in the Swiss market. Double taxation is a stumbling block for foreign investment.”
After three rounds of negotiations with the Swiss government, an agreement which intends to eliminate hindrances caused by over-taxation.
The double tax avoidance treaty will encourage foreign investment and prevent tax evasion and contribute significantly to the country’s development and growth.
The agreement was signed by the Minister of Finance, Ahmed, and the Ambassador of Switzerland to Ethiopia, Tamara Mona.