Africa-Press – Tanzania. TANZANIA Breweries Limited (TBL Plc) has been recognised as the largest taxpayer in the country for the 2020/2021 financial year.
The company received the prestigious recognition award during the Zanzibar Investors Forum held this week ahead of the country’s 60 years of independence celebrations.
TBL has a proud record of being on the top taxpayers in the country. This year they took the shine of many other corporates to be acknowledged as the largest taxpayer for the second time. TBL clinched the top notch first in 2016.
The announcement was made during the Zanzibar Investment Forum, which was graced by the President of Zanzibar Dr Hussein Ali Mwinyi and attended by local and foreign investors.
TBL’s Country Director, Mr Jose Moran said, when receiving the award that the brewer has made a significant contribution to the development of the country’s economy in the last 60 years from paying taxes voluntarily, financial inclusion, agricultural initiatives, and innovative services.
“TBL commends various efforts being made by the government to improving the country’s investment environment, which will go a long way to increase its revenue while reduce employment challenges,” Mr Moran said.
According to a report on ‘Economic Impact Analysis of TBL’ by Ernst & Young, the gross value added by the brewer to the country economy stands at 613bn/- equals to 0.5 per cent of the country’s GDP.
TBL currently sources 74 per cent of its inputs, equivalent to130bn/- of its raw materials demand locally.
The business has continued to be an active player in the agriculture value chain, which directly empowers farmers, and businesses of its main agricultural inputs sorghum, barley and grapes.
“The tax we pay is an important part of our wider economic and social impact and plays a key role in the development of the country and we regard it as a critical element of our commitment to growing in a sustainable, responsible and socially inclusive way,” Mr Moran said.
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