Tanzania tax collections hit 27.64tri/-

Revenue collections

DAR ES SALAAM: The Tanzania Revenue Authority (TRA) collected 27.64tri/- in tax revenue for the 2023-2024 financial year equivalent to 97.67 percent of the target of 28.30tr/-, the taxman has announced.

The collections have increased by 14.50 percent compared to the 24.14tri/- collected in the previous financial year, 2022-2023.

TRA’s latest report released on Monday, it managed to collect 7.09tri/- in the fourth quarter of the year, from April to June 2024, achieving 99.46 percent of the targeted 7.13 tri/-.

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Commenting on the achievement, the TRA Commissioner General Alphayo Kidata said that among other factors, an increase in the number of tourists visiting the country and the improved business investment environments in the country has boosted the importation of goods.

He also noted that the positive response from many taxpayers in submitting returns and paying taxes on time has contributed to the increased revenue.

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Another factor was the rise in voluntary tax compliance following improvements in ICT systems.

“TRA calls upon taxpayers and the public at large to always issue and demand electronic receipts (EFD) for every purchase of goods and services, and to verify the authenticity of Electronic Tax Stamps (ETS) on products,” he reminded.