In a move meant to allow tax exemption to essential investors who contribute to the development of the country’s economy, the government of Tanzania has increased the amount of capital for foreign strategic investors from $ 20 million to $ 50 million.
“The government will continue to apply various efforts that will help to attract big foreign investors in big development projects… investors who could help create job opportunities, speed up production and improve the economy,” Minister for Finance, Saada Mkuya said.
According to the minister the changes will not affect local investors who will continue to be recognized as strategic investors with $ 20 million capital.
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