THE East African Business Council (EABC) has advised the East African revenue authorities to focus on trade facilitation and not only to dwell on tax issues.
The EABC Executive Director, Mr John-Bosco Kalisa, said on Tuesday that the governments should provide incentives and measures to build businesses better and more resilient amid global crises.
“Revenue authorities should focus on trade facilitation,” Mr Kalisa said during the senior executives’ tax seminar aiming at gaining valuable insights from tax experts and experiences in East Africa.
“The event provided a valuable platform for industry leaders to exchange ideas, gain insights, and address tax-related challenges specific to their businesses,” he added.
EABC is committed to advocating for the removal of tariff and non-tariff barriers to boost intra-East African Community (EAC) trade.
Additionally, he said the event provided a unique platform for CEOs and finance managers to engage in discussions on tax audit and corporate tax challenges in the country.
The Arusha Regional Commissioner, Mr John Mongella, said Tanzania is committed to promoting a conducive legal, financial, and economic environment for businesses to thrive across borders and contribute to national development.
Managing Partner at PKF in Tanzania, Mr Mustansir Gulamhussein said they provide tax services ranging from compliance, audit, and advisory.
Tanzania Revenue Authority (TRA) Assistant Regional Manager, Mr Mathew Dismas, said the authority has implemented major reforms through automation and innovation, such as e-filing of tax returns that has improved the ease of doing business and tax collection performance.
EABC Trade and Policy Advisor, Mr Adrian Njau said that Article 83(2) (e) of the Treaty for the Establishment of the East African Community obliges partner states to harmonise their tax policies to remove tax distortions and bring about a more efficient allocation of resources within the community.
“The EAC partner states should harmonise their monetary and fiscal policies to remove tax distortions,” Mr Njau said.
Last July, EAC partner states started applying a 4-band EAC Common External Tariff Structure of 0 per cent, 10 per cent, 25 per cent, and 35 per cent.
The new tariff structure maintained the sensitive items that attract tariff rates of 50 per cent to 100 per cent.
The half-day tax seminar brought together prominent tax experts from PKF who facilitated engaging sessions and provided expert guidance tailored to address specific business-related tax challenges.
The experienced tax professionals shared valuable insights and practical approaches to enhance tax compliance and planning, providing attendees with valuable knowledge to navigate the evolving tax landscape.
PKF is a global network of accountancy firms with over 220 members operating under the PKF brand in 150 countries across five regions, including Tanzania, Kenya, Rwanda, and Uganda.
