President Magufuli’s tax collection plan boosts Tanzania’s treasury
Tanzania, March 19 – President John Magufuli’s tax collection plan has paid off in boosting the Tanzanian National Treasury, as the Premier boldly claims the Government has raked in enough funds to support mega development projects taking place in the country.
The tax drive that was recently launched by the country’s Head of State has collected mountainous revenue which would be ploughed back into the value chain to bring more returns.
President Maguli’s shrewd piece of business has lifted the standards of the economy, as they can look to finance their projects without the huge financial injection form external sources.
The leader had been criticized for his ‘harsh’ motives since he took the wheel, but the fruits of his labor are just getting sweeter.
The tax collection plan is a major boost for the country that has been dependent on foreign aid to support projects.
One of the major projects highlighted by the Premier is the Standard Gauge Railway (SGR) which will play a vital role in the transportation of goods and people.
With its construction, congestion will be minimal and delivery more effective for a good flow of business among the traders. It will be a boost to the country’s infrastructure that had limited the growth and development of businesses.
Energy projects that are among a priority for Tanzania President could find their financial help from the plan.
The government wants to progress the work in the energy department to steer the industrialization drive in the country. The country’s foreign exchange has given credits to the country, enabling them to cover for the import of goods.
President Magufuli’s reputation is drawing the attention of investors and it would be a matter of time before he stirs the competition level in the East African region.