Article 74 — Transitional Provisions

1/ The Repealed Law continue to apply to accounting periods prior to the commencement of this Proclamation. 2/ A reference in this Proclamation to a previous accounting period shall include, where the context requires, a reference to an accounting period under the repealed law. 3/ Regulations and Directives issued under the Repealed Law shall continue to apply to the extent that they are not inconsistent with this Proclamation and until such time as they are replaced by Regulations and Directives issued under this Proclamation. 4/ The Repealed Law shall be applicable to goods imported into Ethiopia within Six months from the effective date of this Proclamation using the Letter of Credit issued prior to the issuance of this Proclamation. 5/ The delegation of power granted to Regional tax authorities by the Ministry of Revenue under the Repealed Law shall continue to be applicable until a procedure and a system of delegation is developed in accordance with this Proclamation. 6/ The residential buildings of a registered person engaged in real estate business, who has credited the input tax paid on creditable acquisition used for residential buildings under construction before entry into force of this Proclamation, may only be exempt from VAT upon returning to the Tax Authority the input tax credited. ‹ 7/ Notwithstanding the provisions of this Proclamation, a registered person engaged in tour operation business shall for Three years from the date of effectiveness of this Proclamation pay Value Added Tax on the net amount of the fee received for Inbound tourism product after deducting the cost incurred in Ethiopia for accommodation, meals, transportation and tours or on commission received. 8/In this Article, “Repealed Law” means that Value Added Tax Proclamation No. 285/2002.