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Browsing: Revenue in Tanzania
Tanzania’s ministry of finance revealed on Wednesday, that it was exploring various techniques, including fostering supervision of the use of Electronic Tax Stamps (ETS).
This is part of the government’s plans to raise revenue collections and speed up the process of creating an enabling environment for Tanzania’s industrialization journey, according to information from The Citizen.
It is another step taken by the Tanzanian government to enhance revenue collection to fund various development projects, as frequently rallied by the Tanzanian President John Magufuli.
Just last year, Tanzania Revenue Authority (TRA) collected over $ 735 million in taxes in September 2019, the highest amount ever collected since the entity inception in 1996.
Tanzania’s Finance and Planning minister, Dr.Philip Mpango, presentation on the government’s development plan and budget framework estimates for 2020/21 financial year, revealed that Tanzania has experienced a significant rise in revenues during the first seven months of the 2019/2020, but …
Tax collection is pristine to Tanzania’s development landscape, that’s they the Tanzania Revenue Authority (TRA) is striving to forge a Tanzanian success story via revenue collection which rose by 66.7 per cent in four years.
TRA Deputy Commissioner General Mr. Msafiri Mbibo announced yesterday during a press conference in commercial-pulse Dar es Salaam that: during the last four financial years, Tanzania has collected over $25.3 billion, pinning the raise to taxpayers compliance, arguing that, it is a direct result of transparency in the authority’s operations and enhancing the overall tax administration system.
Tanzania has its fair share of taxing hurdles, just like any other African nation, as TRA pinpoints the weight of significant tax-paying lies on the shoulders of over 3 million taxpayers (by October 2019) in Tanzania, which rose from 2.2 million.
On the same note, on Sunday November 24, Tanzania’s President John Magufuli, highlighted on the importance of …