{"id":30888,"date":"2021-06-15T15:27:51","date_gmt":"2021-06-15T15:27:51","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=30888"},"modified":"2021-06-15T13:48:10","modified_gmt":"2021-06-15T13:48:10","slug":"budget-opens-bonds-stocks-stiff-competition","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition","title":{"rendered":"Budget opens bonds, stocks stiff competition"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>A BIT of asset war between Treasury bonds and stocks looms after the government proposed income tax exemption for the former junior instruments.<\/p>\n

The aim is to remove grey areas by extending the exemption to cover all government bonds from income tax charged from the interest earned from the Treasury instrument.<\/p>\n

The Minister for Finance and Planning, Dr Mwigulu Nchemba, moving the 2021\/22 budget proposed to widen the scope of the exemption from income tax on interest derived from Treasury bonds.<\/p>\n

\u201cThe government exempted Income Tax on interest derived from Treasury bonds of not less than three years\u2019 maturity for the fiscal year 2002\/03 only.<\/p>\n

\u201cThis measure is intended to extend the exemption to promote investment in Treasury bonds\u2026,\u201d Dr Nchemba told the house on Thursday.<\/p>\n

Vertex International Securities Manager of Advisory and Capital Markets Mr Ahmed Nganya said treasury bonds performance if the motion passed will remain relatively stable.<\/p>\n

\u201cThe government bonds performance will remain relatively stable although we expect a bit of asset war with equities that we expect to outperform,\u201d Mr Nganya said. The debt analyst said the exemption will also increase investors\u2019 confidence and push further competition in the debt market.<\/p>\n

\u201cClarity on Exemption of income tax on all Government Bonds will boost Investors\u2019 confidence and increase domestic revenues. \u201cWe expect the 2021\/22 Finance Bill aims at getting rid of grey areas to avoid unintended consequences,\u201d Mr Nganya said.<\/p>\n

The PwC \u2018Nurturing Investment Growth; Embedding Economic Resilience\u2019 report analysing the budget said this measure aims to clear \u201ca grey area\u201d and promote investment in treasury bonds to finance government projects.<\/p>\n

\u201cCurrently, the exemption only strictly applied to government bonds\u2026with a maturity of more than three years although there was always a grey area whether the interest was subject to income tax as it was in practice exempted based on the Bank of Tanzania guidelines for treasury bonds,\u201d PwC report showed yesterday.<\/p>\n

For the next week, analysts projected the 5\u2013year Treasury bond to be oversubscribed with no significant change in yield. Zan Securities Chief Executive Officer Raphael Masumbuko said investors are for longer-term instrument and the notion will be proved by Wednesday auction, which is the last auction for the 2020\/2021 fiscal calendar.<\/p>\n

\u201cInvestors\u2019 appetite appears to be for the longer-term securities, which offer a higher return and we anticipate this the notion to be reflected on Wednesday 5-year Treasury bond auction,\u201d Mr Masumbuko said through the firm\u2019s weekly market wrap-ups report.<\/p>\n

Nevertheless, analysts have it that the proposed budget covers a wide range of important areas of the economy and they expect it to reach the expected target of 34.6tri\/- if it is well-reviewed.<\/p>\n

The budget, according to some of them, envisages improving the business environment to attract private sector investment to increase employment.<\/p>\n

And improve tax collection and administration systems to simplify tax payments and widening the tax base and improve the efficiency of parastatals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. A BIT of asset war between Treasury bonds and stocks looms after the government proposed income tax exemption for the former junior instruments. The aim is to remove grey areas by extending the exemption to cover all government bonds from income tax charged from the interest earned from the Treasury instrument. The […]<\/p>\n","protected":false},"author":84,"featured_media":30887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-30888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nBudget opens bonds, stocks stiff competition - Tanzania<\/title>\n<meta name=\"description\" content=\"A BIT of asset war between Treasury bonds and stocks looms after the government proposed income tax exemption for the fo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget opens bonds, stocks stiff competition\" \/>\n<meta property=\"og:description\" content=\"A BIT of asset war between Treasury bonds and stocks looms after the government proposed income tax exemption for the fo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-15T15:27:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/06\/img-60c8af758c8d9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Budget opens bonds, stocks stiff competition\",\"datePublished\":\"2021-06-15T15:27:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition\"},\"wordCount\":488,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/06\/img-60c8af758c8d9.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/budget-opens-bonds-stocks-stiff-competition\",\"name\":\"Budget opens bonds, stocks stiff competition - 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