Govt hails most compliant taxpayers
THE government has commended companies and individuals for being tax compliant pledging to continue creating better environment for remitting their taxes without being forced for implementing the country’s development agenda.
Making the revelation in Dar es Salaam in event to recognise and celebrate most compliant businesses and individual taxpayers in remitting their taxes, where NMB Bank became the overall winner of the 2022 Tax Payers’ Awards organised by the Tanzania Revenue Authority (TRA) on Friday last week, the Minister for Information, Communication and Information Technology, Mr Nape Nnauye further said: “The government recognises the role of tax payers in the country’s development process. Without these taxes, the government will not be in the position to implement development projects in full-scale.”
Apart from scooping the overall national most compliant Tax Payer Award, NMB also won the most compliant and largest Tax Payer in the banking sector and emerged the 2nd runner-up in Large Tax Payers category across all sectors.
He added “So, as we celebrate today, I would like to take this opportunity to thank companies and individuals for being tax compliant.”
He noted that the taxes collected during the financial year enabled the government to implement various development projects across the country.
Mr Nape, during the event commended TRA for realising the set tax collection targets and urged the authority to continue building mutual relationships with tax payers that will enhance voluntary tax payment.
“Collecting 22.28tri/- in taxes being a 99 percentage of 22.4tri/- target is a very big achievement. I commend TRA’s management and staff for this achievement,” Nnauye said.
Equally, he reiterated government’s commitment to continue improving the business environment across the country to enable both local and foreign businesses and businessmen to operate in a more conducive environment.
Speaking shortly after receiving the awards, the NMB Bank Chief Executive Officer, Ms Ruth Zaipuna said the awards validate the bank’s commitment to tax compliance and contribution to the social and economic development of Tanzania.
The award, she said, had been made possible by the company’s leadership vision and employees’ continued commitment to uphold best in class operating standards.
“Regulatory compliance is a core pillar of our corporate governance, and these awards reinforce our drive to continue upholding compliance as part of our five values at NMB.
These awards continue to prove that as Tanzania’s largest bank – our success translates to the prosperity of millions of our fellow Tanzanians.
I thank our employees for being diligent to their work and for their unwavering commitment to fuel the growth of our bank and the nation at large,” she said.
She added, “As we celebrate this important recognition, we will continue subscribing to be the best in class operating and compliance standards driven in all our areas of work, as we seek to increase our contribution to the economy and solidify our position as a true partner in supporting Tanzania’s development agenda.”
Between 2018 and 2021, NMB helped the authorities to make collections worth 9.6tri/-. The bank was also a top taxpayer remitting more than 1.2tri/- to national coffers in seven years.
