Browsing: Tanzania Revenue Authority (TRA)

foreign investors

Why France is Concerned by  Foreign Investors Challenges in Tanzania

Tanzania
  • In their letter dated June 26th, 2024, High Commissioners and Ambassadors from 10 countries expressed their dissatisfaction with how the Tanzania Revenue Authority (TRA) handled taxation issues related to investors from their countries.
  • The French Embassy acknowledges the contribution to attracting and expanding quality international investment into Tanzania.
  • Tanzania has attracted a stock of over $3.87 billion of investments from India, with a total of 675 projects and over 61,000 jobs delivered, making India one of the Top 5 investors in India.

Foreign Investors Challenges in Tanzania

“We are writing to express our concerns regarding both recent and ongoing challenges faced by foreign investors in Tanzania,” said a letter by a group of Ambassadors representing the United States, the United Kingdom, the Kingdom of Netherlands, France, Belgium, Canada, Korea, Sweden and Germany obtained by The Exchange, in part.

According to the letter addressed to January Makamba, Minister of Foreign Affairs …

TRA

From Nairobi to Dar: Tanzania Kariakoo traders borrow a leaf from Kenya in anti-tax strike

Countries
  • Kariakoo Traders from Tanzania are striking against higher taxes heaped on them by the authorities.
  • The government has however assured the traders on the safety of their property.
  • Unlike tear gas and fights in neighbouring Kenya that have caught global attention, Tanzania’s strike is rather less chaotic.

“No more taxes and the strike is the only apparatus we have to get what we want and the way forward” says Frank, a merchant and trader in the Tanzania’s open market pulse, Karikoo. Frank and like most of his peers, often young people, who invested significantly in stores that charge over $220 rent per month – is forced to see his investment wither by the day, as tax revolt intensifies.

Thanks to social media, the traders circulated a message on June 22, 2024 that directs all traders in Kariakoo to close their businesses, including their shops, offices and any other activities …

EAC member countries move to tear down non-tarrif barriers

Industry and Trade

The East African region has a long history of cooperation stretching back to 1900 when a Single Customs Collection point was established at Mombasa. Still, Non-Tariff Barriers remain a challenge to trade. The first instance of regional integration dates back to 1917 between Uganda and Kenya.…

samia pic

Tanzania’s local authorities a hotbed of corruption – Audit

Tanzania
  • 71 LGAs paid $4.3 million (TZS10.08 billion) to various suppliers and clients without demanding receipts.
  • About $32.7 million in revenue from rental charges for shops and houses located at the council’s bus stands and markets was not collected.
  • Audit has prompted President Samia Suluhu Hassan to dissolve the board of Tanzania Government Flight Agency (TGFA).

An audit in Tanzania has exposed massive corruption and misuse of public finances across Local Government Authorities (LGAs) that led to the loss of billions of shillings, yet another pointer to why the country of nearly 65 million people still ranks high globally on corruption.

Tanzania Controller and Auditor General (CAG) 2021/22 report shows a total of 71 LGAs paid $4.3 million (TZS10.08 billion) to various suppliers and clients without demanding receipts while another 40 authorities wired $725,711 or TZS1.70 billion to beneficiaries without proof of the relevant supporting documents.

A total of $4.7 million …