President John Magufuli has said there are 17,447 companies registered by Business Registrations and Licensing Agency (Brela), but there is no evidence to show any business they are doing.
Yet, the President said despite doing unknown businesses, they kept on requesting for Value Added Tax (VAT) refund. The President revealed this at a meeting with businesspeople from across the country at the State House in Dar es Salaam on Friday.
Earlier, the President said the aim of the meeting was to address challenges facing local businesspeople. Dr Magufuli detailed some obstacles resulting from authorities’ bureaucracy that was thwarting businesses.
With documented evidence in both hard and softcopy formats, the President said some companies were not transparent since they produced fake and real financial statements and submitted them to Tanzania Revenue Authority (TRA) and banks respectively.