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&..Y-o&.1A";J ~T ;J It £I]FEDERAL NEGARIT GAZET A

OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

IN'''';;: ~OD:" ~'I'C tl'ith.lth Mlf1 - ilJ!.~ .,., Iitfift

2ndYear No. 29

ADDIS ABABA-4th July, 1996lJ~:"r-kf J..1..t.l\'f .ct'l"h&-Itf'f tTlll\.hf ih1fll "'lDttr-i- 9"hC fl.:" mll4:~:" flDlI)

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CONTENTS

Regulations No. 7/1996Investment Incentives Council of Ministers

Regulations Page 225

fOlJ.thTC':frhc o.T ~111 4l1'Ci/!!1fif~ COUNCIL OF MINISTERS REGULATIONS NO. 7/1996

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COUNCIL OF MINISTERS REGULATIONSTO PROVIDE FOR INVESTMENT INCENTIVES

These Regulations are issued by the Council of Ministerspursuant to Article 5 of the Definition of Powers and Duties ofthe Executive Organs of the Federal Democratic Republic ofEthiopia Proclamation No.4/l995 and Article 9 of theInvestment Proclamation No. 37/1996.

PART ONEGeneral

1. Short Title

These Regulations may be cited as the "InvestmentIncentives Council of Ministers Regulations No. 7/1996."

2. Definitions

Unless the context otherwise requires, in theseRegulations:

1. "Proclamation" means the Investment ProclamationNo. 37/1996;

2. "Customs Duty" includes taxes levied on importedgoods;

3. "Income Tax" means tax levied on profits frombusiness and categorized as the revenue of the FederalGovernment, Regional Governments or as their jointrevenue; --

4. "Board" means the Federal Investment Board;

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Negarit G.P.O.Box 80,001

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5. "Authority" means the Ethiopian InvestmentAuthority;

6. The definitions provided for under Article 2 of the

Proclamation shall apply t<?these Regulations.

PART TWO

Exemption from Income Tax

3. Pioneer Investment Activities

1. Pioneer investment activities shall be those listed in

Schedule One attached to these Regulations.

2. An investor who invt?sts in pioneer inv~stment ac-tivities by establishing a n~w enterprise shall beexempt from income tax on the following conditions:

(a) where the investment is in Addis Ababa, Nazarethor in a locality within a radius of 15 kms of the main

highway connecting the two cities, the period ofexemption shall be for 3 ye'j.rs;

(b) where the investment is in relatively under-developed Regions such as Gambella, Benishan-gul and Gumz, South Omo, certain zones in Afar,Somali and other regions to be. determined by the~oard, the period of exemption shall be for 5years;

(c) where the investment is in localities other than

those specified in sub-Article 2(a) and (b) of thisArticle, the period of exemption shall be for 4

years. .'

3. Notwithstanding the provisions of sub-Article (2) ofthis Article, a foreign investor who invests in accor-dance with Article 11(3).of the Proclamation shall be

entitled to exemption from income taX'for a period of 2years, where the amount invested is less than 500,000U.S. Dollars or its equivalent in Birr .

4. Promoted Investment Activities

1. Promoted investment activities shall be those listed in

Schedule Two attached to these Regulations.

2. An investor who invests in promoted inv~stmentactivities by establishing a new enterprise shall beexempt from income tax on the following conditions:

(a) where the investment is in Addis Abab~, Nazarethor in a locality within a radius of 15 Kms of the

main highway connecting the two cities, the periodof exemption shall be for 1 year;

(b) where the investment is, in relatively under-developed Regions such as Gambella, Benishan-gul and Gumz, South Omo, certain zones in Afar,Somali and other regions to be determined by theBoard, the period of exemption shall be for 3years; .

(c) where the investment is in localities other than

those specified in sub-Article 2 (a) and (b) of thisArticle, the period of exemption shall be for 2years. .

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3. Notwithstanding the provisions of sub-Article (2) ofthis Article, a foreign investor who invests in accor-dance with Article 11(3) of the Proclamation shall beentitled to exemptionfrom income tax for a period of 1year, where the amount invested is less than 500,000U.S. Dollars or its equivalent in Birr .

4. Notwithstandingthe provisions of sub-Articles (2) and(3) of this Article, an investor who invests in AddisAbaba in investment activities specified in ScheduleTwo C (8), (9), (11), (42) and (43),D(2) and G shallnotbe entitled to income tax exemption.

5. Expansion and Upgrading of Existing Enterprise

1. An investor who invests in expansion or upgrading ofan already existing enterprise engaged in pioneer orpromoted investment activities shall, with respect tosuch expansion or upgrading, be entitled to income taxexemption on the following conditions:

(a) for pioneer investment activities: 2 years;

(b) for promoted investment activities: 1 year.

2. An exemption of income tax in accordance with sub-Article (1) of this Article shall be applicable where theadditional income generated from the expansion orupgrading is separately held in a different account.

3. The restrictionsmadeunder sub-Article (4)of Article 4of these Regulations shall also apply to expansion andupgrading of already existing enterprises.

6. Minimum Capital

1. An investor shall be entitled to incentives provided forunder Articles 3 and 4 of these Regulations where theinvestmentcapital allocatedto the new enterprise is notless than:

(a) 250,000 Birr, in the case of a domestic investor;

(b) 500,000 U.S. Dollars, in the case of a foreigninvestor;

(c) 300,000 U.S. Dollars, in the case of a foreigninvestor's contribution to a joint investment;

(d) 100,000U.S. Dollars or its equivalent in Birr, in thecase of a foreign investor reinvesting his profits ordividend.

2. An investor shall be entitled to incentives provided forunder Article 5 of these Regulations where the invest-ment capitttl allocated to the expansion or upgradingproject, compared to the capital of the already existingenterprise, is not less than the following percentage:

(a) where the capital is from Birr 250,000 up to Birr2,000,000 . 45%;

(b) where the capital is greater than Birr 2,000,000 upto Birr 5,000,000 ' 40%(but not less than Birr 900,000);

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(c) where the capital is greater than Birr 5,000,000 upto Birr 20,000,000 35%(but not less than Birr 2,000,000);

(d) where the capital is greater than Birr 20,000,000 upto Birr 50,000,000 30%(but not less than Birr 7,000,000);

(e) where the capital is greater than Birr 50,000,000 upto Birr 100,000,000 :.~ 25%(but not less than Birr 15,000,000);

(f) where the capital is greater than Birr 100,000,00020 % (but not less than

Birr 25,000,000).

3. (a) The actual capital of an already existing enterpriseshall be as ~uditedand verified by auditor's reportor, in the absenceof such report, as acceptedby thethe appropriateinvestment organ after examinationof documents submitted to it.

(b) The provisions of sub-Article 3(a) of this Articleshallalsoapply to capital investedin the expansionor upgrading of existing enterprises.

7. Commencement of Periodof Exemption from Income Tax

The periodof exemptionfrom income tax shallbegin fromthe date of commencementof productionor of provision ofservices, as the case may be.

8. CarryForwardof Losses

An investor who has incurred loss within the period ofexemption from income tax shall carry forward his lossunder the following conditions, for the.number of yearsspecified hereunder, after the termination of the taxholiday:1. where the investmentis in Addis Ababa, Nazarethor in

a locality within a radius of 15 kms of the mainhighway connecting the two cities and where suchinvestment falls under pioneer or promoted activities

! '. """""'''''''''' ',:'''''' for 3 years;

2. where !theinvestment is in relatively underdevelopedregions such as Gambella, Benishangul and Gumz,South Omo, certain zones in Afar, Somali and otherregions to be determined by the Board:

(a) for pioneer activities: 5 years;(b) for promoh~dactivities: 4 years;

3. where the investment is in localities other than thosespecified in sub-Articles (1) and (2) of this Article:

(a) for pioneer activities: 5 years;(b) for promoted activities: 3 years.

9. Expenditures on Researchand Training

An expenditure incurred by an investor on research andtraining programmes to upgrade or expand an enterpriseshall be deductible for income tax purposes.

10. Methods of Calculation of Depreciation

1. Subject to the choice of the investor, depreciationallowance shall be calculated annually either- on thebasis of straight line or accelerated depreciationmethods.

1~ Utl'i ~S?t.1A ~:;Jt-'t-".7!LIfJ <k1'CtI'~ (U~tl'i ""~ifif~ '}''''', Federal Negarit Gazeta - No. 294 Ih July 1996 -Pag~ 229

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2. The choice made by an investor in accordance withsub-Article (1) of this Article shall be indicated at thetime of applicationfor investment peimit.

3. The method Of calculating depreciation"allowancechosen by the investor in accordanc6with sub~Article(2)of thisArticleshallbe used throughout the durationof the enterprise.

PART THREE

Exemption from Customs [j~ty"

111. General

1. An investor who invests in pioneer or) promotedactivities enumerated in Schedules ONE, TWO andTHREE of these Regulations, the minimum capitalspecified in Article 6 hereinabove, shall be exemptfrom paYl1),entof customs duty on, machinery andequipment necessary for the establishment.of a new,enterprise or for the expansion or upgrading of analready existing enterprise. .

2. Notwithstanding the provisions of sub-Article (1) ofthis Article, a foreign investor who reinvests aminimum capital of 40,000 U.S. Dollars or itsequivalent in Birr, drawn from the profjt of an alreadyexisting eI)terprise,in expansion or upgrading shall beexempt from payment of customs duty on macbineryand equipment necessary for said investment.

'. ,3. A.ninvestor who invests in activities of less than Birr

250,000 capital, enumerated in Schedule FOUR at-tached to these Regulations, shall be, exempt frompaymentof customsduty on machineryand equipmentnecessary for the investment.

4. Notwithstandingthe provisions of sub.:Articles(1) and(3) of this Article, an investor who invests in AddisAbaba in investment activities specified in C (8), (9),(11), (42) and (43) of Schedule TWO, F of ScheduleTHREE as well as B(5), (6), (8) and (26) of ScheduleFOUR shall not be exempt from payment of customsduty.

5. Capital goods shall be imported free of customs duty.Provided, however, where substitutes of capital goodsrequired to be so imported are locally produced, theBoard shall publicize such substitute capital goods bydirectives issued from time to time.

6. Goods imported free of customs duty shall not betransferred to third 'parties not entitled to duty-freeprivileges, unless prior payment of customs duty iseffected thereon. .

12. Machinery and Equipment to be Imported Duty Free forAgriculturalInvestmentsThe followingmachinery and equipment, and accessoriesthereof, together with spare parts of up to 15% of theirvalue shall be exempt from payment of customs duty:

1K" Uc9 ~1..'rI\~:?~"" ?,H.tfJ~1'C ~D tt~ ~ +., !Dfit~ ,.9'". Federal Negarit Gazeta- N.o.294 tbJuly,1996- Page 230

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1. agricultural machinery f.or~he preparati.on .of virginfarmland and heavy earth m.ovingequipment J.or thec.onstructi.on.offarm roads;

2. equipmentnecessary starting(r.omland preparati.on.orsm.o.othingup t.ocrop harvesting .orf.orseparating .orcleaning .ofagriculturalproduce;: , .

3. equipment necessary f.or breeding animals .or f.orseparating, preparing .orcleaning animal products aswell as f.orfishery devel.op!llent;

4. producti.onmachinery and equipment necessary f.oragr.o-industries.

3. Machinery and Equipment to be Imported Duty Free forManufacturing Investments

Machinery and equipment directly put t.o'pr.oducti.on .ofg.o.ods,and access.ories there.of, t.ogether with spare parts.of up t.o 15% .of their value as well as steel structuresnecessary f.or c.onstructi.on .of fact.ory' buildings shall beexempt fr.ompayment .ofcust.oms duty.

4. Machinery andEqu.ipmentto be Imported Duty E'reeforConstructionInv~stments

C.onstructi.onmachinery and equipment, t.ogether withspare parts .ofup t.o 15% .of their value, necessary f.orc.ontract.ors,water-well drilling and .other water relatedc.onstructi.onw.orksas well asf.or leasing-servicepurp.osesshall be exempt fr.ompayment .ofcust.omsduty.

115.Equipment to be Imported Duty Free for In vestments inHotel and Tourism ServiCes .

1. Durables .ofbig imp.ortance necessary f.orkitchen w.orkas well as for laundry services in star-rated h.otels andl.odges inside parks and hist.orical sites ~hall be exemptfr.om payment .ofcust.oms duty.

'2. The type and quantity .ofg.o.odst.obe imp.orted as undersub-Article (1) .of this Article shall be determined bydirectives issued by the Board.

6. Equipment to be Imported Duty Free for Investments inEducationalServices

Equipment necessary f.oreducati.onalservices includinglab.orat.oryequipment, as specified in directives issued bythe Ministry .of Educati.on in respect .of educati.onalinstituti.ons at vari.ous levels, shall.be exempt frompayment.of cust.omsduty.

117.Equipment to be importedDuty Free for In vestmentsin Health Services

Equipment necessary fqr health services includinglab.orat.oryequipment, as specified in directives issued bythe Ministry .ofHealth in respect .ofhealt~ institu~!.onsatvari.ouslevels, shall be exempt from payment .ofcust.orrtsduty.

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,

18.Equipment to be ImportectDuty Free for In vestmentsin Transportand Storage Services

Vessels and small ships for transportation of people andgools on inlandwat~r~,aireraftswith a seatingcapacity ofup to 20 passengersor,witha.cargo capacity of 2,700 kg.,pther equipment anq"accessories thereof for aviationservices, air cooling equipment to be installed inwarehouses,cranes and in-house vehicles'fortransportinggoods togetherwith spareparts of up to 15%ottheir valueshall be exempt from payment of customs duty.,

J9. Equipment ta belniportedDuty Freefor Investments inEngineeringand TechnicalConsultancy Services

Equipment for surVeying,designing, photogrametry andcartograhpy, measurement and accuracy devices and thelike, with the exception of, such office equipment ascomputers and photocppiers, equipment necessary forengineeringand techni~alconsu\t~ncyservicesand acces-sories thereof shall be exempt from payment of customsduty.

20. Vehicles to be Imported Duty Free for InvestmentActivities in WasteDisposal Services

Vehiclesfor lifting and transporting solid or liquid waste,and accessories thereof, together with spare parts of up to15% of their value shall be exempt from payment ofcustoms duty.

2J. MachineryandEquipment to be Imported Duty Free forInvestments in Generationof ElectricalEnergy and in PetroleumRefining

Machineryandequipment,and accessoriesthereof,neces-saryfor generating,transmittinganddistributingelectricalenergy as well as for refining of petroleum, together withspare parts of up to 15% of their value, shall be exemptfrom payment of customs duty.

22. Support Machinery and Equipment

Support machinery and equipment such as forklifts,electric generators, compressors, machinery and equip-ment for installation of electric and water supply lines,conveyors, laboratory equipment, boilers and main-tenance equipment, radio communication equipment,specialpurpose vehicleswith refrigeratorsor sprayers andvehicles designed for transporting live animals shall,where ascertained necessary by the Authority for theinvestment project, be exempt from payment of customsduty.

23. Vehicles

The type and quantity of vehicles to be exempted frompayment of customs duty, as deemed necessary for thecommencement and operation of investment activities,shallbe determinedby directivesto be issuedby the Boardin considerationof their nature, size or location.

'IX" !O~r!)1A..1.t.fA ~;M"";JIt.(I) ..1l-rC fii .U ~ .,., Iiiftl ,.9". Federal Negarit Gazeta - No. ??4 1h July 1996 - Page 232

hti:A ltt.:"A' A' 1:");11."'"

PARTFOUR

Miscellaneous Provisions

24. Inapplicable Regulations and Directives.Any Regulations or directives inconsistent with theseRegulations shall not be applicable with respect tomatters covered herein.

ti~. "'LK"7.~:" ilN"f,lft.TaJo 1."),,"fti 0000(,1"'"htllJ 1.")11;1C f"7.:J>l")D'/'iTaJo'" 1.")11mf,'" 0000(,1OtllJ 1.")11 f.,.1. ~11qTaJo") .,..c;r-'" O.,.ooAh+ .,.LK"7.~:" ltf,'i laJo'" II

I ti?;.1.")'" f"7.~'iO:"1.", 25. Effective Date

f,., f.")11hlakHi +")Iifit~ 't.,... 1..,..r:f~'if,If'i A r. I These Regulations shallcome into force as of the 18thdayof June, 1996.

It-'LilltOq lak ti~ +") Iifit~ 't.r. Done at Addis Ababa, this 4thday of July, 1996-.

ooAit JI.'i'ff1\.:",.111 L~t."'f -'LlfDht.""''f (,T-flA.h

m~"f, "7.t'h:"C,

. MELES ZENA WIPRIMEMINISTER OF 1HEFEDERALDEMOCRAl1C

REPUBLIC OFETlHOPIA

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