Africa-Press – Tanzania. THE Tanzanian government and the Czech Republic have signed an Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Avoidance and Evasion with Respect to Tax on Income.
This milestone aims to attract international investment and strengthen commercial relations between the two countries.
The agreement was signed in Dar es Salaam at the Ministry of Finance’s Sub-office. It was signed on behalf of Tanzania by the Minister for Finance, Dr. Mwigulu Nchemba, and on behalf of the Czech Republic by Ambassador Nicol Adamcová, the Czech envoy to Tanzania based in Kenya.
Speaking shortly after the signing ceremony, Dr. Nchemba said the agreement will help eliminate the challenge of the same income being taxed twice in different jurisdictions—a barrier that has discouraged many international investors.
“This agreement is part of President Dr. Samia Suluhu Hassan’s broader efforts to open up Tanzania’s economy. It promotes fair taxation policies, builds investor confidence, and encourages international investment,” said Dr. Nchemba.
He added that statistics from the Organisation for Economic Co-operation and Development (OECD) show that countries with robust double taxation treaties attract up to 30 percent more foreign direct investment than those without such agreements.
Dr. Nchemba also stated that Tanzania expects to benefit from Czech investments, particularly in sectors such as automobile and aircraft manufacturing, electrical equipment, machinery, and industrial tools. These investments are projected to boost local production, strengthen industrial development, and create employment opportunities for Tanzanians.
This agreement marks a significant step toward making Tanzania a strategic hub for trade and investment in the East and Central African region.
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