Accountants Week: Business Education Initiative Empowers Traders in Record Keeping and Tax Compliance

DAR ES SALAAM: In commemoration of Accounting Week nationwide, the Tanzania Association of Accountants (TAA), in collaboration with various stakeholders, has launched an educational outreach initiative targeting business owners. The program aims to provide guidance on proper record-keeping practices and ensuring accurate tax compliance.

President of the Tanzania Accountants Association, Godvictor Lyimo who is also Geita Gold Mining Limited’s Senior Tax Disputes Resolution Manager, earlier this week addressed reporters in Dar es Salaam, highlighting the multifaceted approach of the initiative. Alongside educating business owners, TAA plans to offer mentorship to aspiring accountants and extend assistance to a deaf school in Temeke municipal.

Lyimo emphasized the community-oriented nature of these events, stating, “This week are engaging with the business community in Kariakoo, Tandamti street, with a focus on educating our members who are businessmen. Our objective is to promote accurate record-keeping practices and ensure proper tax payments to the Tanzanian government.”

He further explained, “The ultimate goal is to equip traders with the necessary skills to maintain comprehensive records, facilitating easier access to loans at favorable rates.”

This year’s initiative benefits from partnerships with leading institutions such as NMB Bank, UTT, and Watumishi Housing. These collaborations enable enhanced educational opportunities for businessmen, empowering them to maximize investment potential and access additional benefits.

“We will also host a mentorship event aimed at providing guidance to budding accountants. Experienced professionals will offer valuable insights and instructions to those aspiring to join the profession,” Lyimo added.

In addition to educational efforts, TAA will extend support to a school of the deaf in Temeke, underscoring the association’s commitment to community welfare.

Lyimo urged accountants nationwide to actively participate in these initiatives through various channels, emphasizing the importance of collective engagement.

Boniface Moses, a beneficiary of the educational outreach on record-keeping, encouraged fellow businessmen to seize the opportunity for learning. “This education is invaluable for us. Many traders are engrossed in daily operations, but by participating, we can ensure better financial management and the security of our business,” Moses remarked.

Accounting Week serves as a crucial platform for promoting financial literacy, fostering compliance, and enhancing economic resilience among Tanzanian businesses.

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