This milestone reflects the authority’s commitment to improving revenue generation and underscores the positive economic trends in the country.
The amount collected in this first quarter of the new fiscal year represents an 18.4 per cent increase to 7.79tri/- from 6.57tri/- collected in the corresponding period in 2023/24 Financial Year (FY).
TRA Commissioner General, Mr. Yusuph Mwenda said the amount was the highest ever achieved by the authority for the July-September 2024 period since independence.
“The performance achieved in the first quarter is a positive indicator that we will meet our collection target by the end of this fiscal year,” Mr. Mwenda said yesterday.
TRA targeted to collect 7.42tri/- but surpassed this goal by collecting 7.79tri/-, equivalent to 105 per cent, for the three months ending in September 2024. In total, the authority aims to collect 30.04tri/- in the 2024/25 FY.
He attributed the achievement to the effective use of Electronic Fiscal Devices (EFDs) and the implementation of Excise Tax Stamps (ETS).
He noted that TRA is committed to implementing all directives from the government regarding tax administration in the country.
TRA aims to strengthen its relationships and cooperation with taxpayers and all citizens, focusing on enhancing tax education and providing quality service.
“Our goal is to manage and strengthen the foundations of a sound tax system, ensuring fairness and equity in tax collection without favouritism or victimisation,” Mr. Mwenda said.
He expressed the authority’s commitment to building and improving domestic and customs tax systems, Integrated Domestic Revenue Administration System (IDRAS) and Tanzania Customs Integrated System (TANCIS), which interact with other systems.
The statement breaks down the tax collection for the first three months, showing that in July 2024, the actual collection was 2.35tri/- against a target of 2.25tri/-. This represents an increase of 21.1 per cent compared to 1.94tri/- in the 2023/24 fiscal year.
Similarly, in August 2024 the taxman collected 2.42tri/- against a target of 2.30tri/-. The amount collected reflects an increase of 20.4 per cent compared to the 2.01tri/- in similar period last year.
In September 2024, the authority collected 3.02tri/- against a target of 2.88tri/-, achieving an efficiency rate of 104.8 per cent, representing a 15.0 per cent increase compared to the 2.62tri/- collected in the similar month last year.
The outstanding performance of revenue collection is attributed to the respectable tax administration systems as directed by President Samia Suluhu Hassan.
Since President Samia ascended into power in March 2021, the government has created a friendly tax collection environment, something that resulted in an increased tax collection.
Such efforts significantly enabled the business community as well as any ordinary Tanzanian becoming economically productive and pay tax voluntarily without being forced and made to sense it as a burden.
The ex- Board Chairperson and member of the TRA, Professor Marcellina Chijoriga said tax reforms made by President Samia’s administration have attracted investors in all sectors.
Prof. Chijoriga sees the business environment as much more friendly for local and foreign investors.
Indeed, under the leadership of Mama Samia, the government has signalled the implementation of good fiscal policy and instruments.
The first directive of the Head of State after assuming the highest office to the TRA was to change their mode of collecting tax.
Last year, President Samia further directed TRA to take urgent measures in resolving tax wrangles with foreign investors, adding that oppressive taxation system was not healthy for development.
President Samia further ordered TRA’s Commissioner General to ensure fairness in discharging tax laws. She said tax collection must be carried out effectively and fairly.
Daily News
No comments:
Post a Comment