Simple way to declare tax to ERCA

TYC eTax system. A simple way to declare tax to ERCA

Tax system in Ethiopia – Declare tax to ERCA online

There are a number of  ways Ethiopian business owners can prepare and declare tax to ERCA (Ethiopian Revenue and Customs Authority). Bus there is  few  way to do it right in the twenty first century. In the century  where time and money are precious.  There is in fact only one way and that is TYC Tax.

This post will introduce you with TYC Tax. It will guide you how you can start this simple and yet crucial step into your company’s success. It will highlight the benefits you can get from this modern technology in the crazy business environment of Ethiopia.

What is BusinessTYC and TYC Tax?

Ok first what is businessTYC? Well BusinessTYC is a sets of application  developed by A & L Information Technology PLC to  nurture local business needs. These applications include inventory management, sales management, etc. At the center of all this systems and every business is  Money and Tax.  And that is where TYC Tax (TYC eTax) comes in.

TYC eTax is tax calculation, preparation and declaration application made in Ethiopia for Ethiopian business.  It is an  online tax software that bridges the problem between Ethiopian business owners and ERCA. It is a modern  tax system in Ethiopia accountants and business owners use.

What is ERCA? and Different between TYC Tax and ERCA eTax

If you are not familiar with it ERCA is the Ethiopian Revenue and Customs Authority. Is is the government  body responsible for collecting revenue from customs duties and domestic taxes.

ERCA has an eTax application that allows some of its tax payers to report their tax online. It is made mainly for the government and for communication.

Unlike ERCA’s etax, TYC etax/ TYC Tax  is made for business owners  and accountants.  It’s focus is not just tax declaration. It  is made to help you in tax calculation and preparation too. It also help you track your income and expenses. Local and international purchases. Furthermore it tracks back  your possible refunds from ERCA. Finally you can use it to declare tax to ERCA .

Reports  automatically  generated by  TYC Tax.

When you start  using TYC Tax the following reports are automatically generated for you. You don’t need to go through complex  calculations and previous data  at all.

  1. Monthly VAT declaration report,
  2. Monthly purchase report.(Both Local goods  and  services )
  3. Monthly Withholdings,
  4. Monthly Employee Report,
  5. Monthly  Employee Pension Tax,
  6. Yearly Profit and Loss Statement, etc.

Who is TYC for?

TYC Tax is for both business owners and accountants. In fact it best suits accountants who manage accounts of more than one company. They can manage a number of clients in it.

Starting TYC tax

To start using TYC etax just  go to  the etax product demo page and  create account. You can try it for free, don’t worry. If you need support you can reach us .  Once you logged in  follow the instructions either in the system tour or here.

  1. Create your company,
  2. Enter your  local purchases (both goods and service),
  3. Based on  the way you created your company your may need to enter your  sales ,
  4. Finally print your reports and declare your tax.

It  is as simple as that!  Next month you don’t have to remember this month’s detail. The system will do that for you. And at the end of the year everything is a delight with  BusinessTYC tax.