Ethiopia's Council of Ministers has proposed a tax exemption on income/gains from share premiums when qualifying shares are issued to non-residents. Under current rules, if a company issues (sells) shares for an amount exceeding par value, the difference (share premium) is treated as taxable income/gains. As proposed, an exemption would apply where the share premium results from the issuance of new shares by an existing company to a non-resident, and the business of the company is expected to…