Revenue collection doubles
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DAILY NEWS Reporter
Daily News; Wednesday,October 10, 2007 @00:02
THE monthly revenue collections has more than doubled since the fourth
phase government took office 22 months ago from 147bn/- in December
2005 to 320bn/- last month.
Finance Minister Zakia Meghji told a news conference in Dar es Salaam
yesterday that the revenue collections growth was a result of good tax
base and improved working relations with taxpayers.
"It is our challenge (fourth phase government) to widen up tax base
and tighten loopholes for evading taxes," she said.
According to the minister, out of the 6.1tri/- budget for the
2007/2008 fiscal years, 3.6tri/- would be locally sourced.
A senior official with the International Monetary Fund (IMF), Mr Roger
Nord, commended the Tanzania Revenue Authority (TRA) for strengthening
tax administration.
"It will be important to maintain the domestic revenue effort while
remaining vigilant now that the anticipated foreign financing is
forthcoming," he said.
Bank of Tanzania (BoT) Director of Economic Policy at BoT, Mr Isaack
Kilato, told the 'Daily News that there was positive compliance among
taxpayers.
"There has also been a good contribution by private sector that has
led to the increase of revenue collections," Mr Kilato explained.