{"id":44267,"date":"2022-01-02T17:29:33","date_gmt":"2022-01-02T17:29:33","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=44267"},"modified":"2022-01-02T16:14:52","modified_gmt":"2022-01-02T16:14:52","slug":"tra-announces-record-revenue-collections-in-half-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tra-announces-record-revenue-collections-in-half-year","title":{"rendered":"TRA announces record revenue collections in half-year"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Dar es Salaam<\/b><\/p>\n

. Despite Tanzania\u2019s economy being ravaged by Covid-19 pandemic, revenue collected by the Tanzania Revenue Authority (TRA) in the first half of the 2021\/22 Fiscal Year shades light of a bright future.<\/p>\n

This comes after TRA reported to have collected Sh11.11 trillion which is equivalent to 98 percent of Sh11.302 trillion forecasts between July and December 2021.<\/p>\n

A statement signed by TRA Commissioner General Alphayo Kidata released yesterday had it that when compared to revenue collected during a similar period in 2020\/21 there is a notable 20.2 percent increase.<\/p>\n

\u201cThe collection equals to an increment by Sh1.87 trillion when compared to Sh9.24 trillion collected during the same period of 2020\/21 Financial Year,\u201d reads the statement in part.<\/p>\n

The taxman says TRA collected Sh2.51 trillion in December 2021 which is Sh220 billion more as compared to the Sh2.29 trillion forecasts.<\/p>\n

Furthermore, the statement says that despite surpassing the forecasts, the 109 percent collections sets the new monthly revenue collections records since establishment TRA.<\/p>\n

\u201cDuring that period, the voluntary tax payments trend as well as authority and taxpayers relationship was satisfactory,\u201d reads the statement, adding.<\/p>\n

\u201cThe authority would like to thank stakeholders and taxpayers who have enabled the authority to set the new revenue collection record since its establishment.\u201d<\/p>\n

In the statement, Mr Kidata thanks President Samia Suluhu Hassan for her directives and guidance aimed at enabling TRA to provide services according to integrity, professionalism and accountability.<\/p>\n

Regarding its expectations in the New Year 2022, TRA says it expects traders dealing in different products would provide appropriate Electronic Fiscal Device (EFD) receipts as per the directives of the regulations of the country.<\/p>\n

The authority wants customers to demand accurate EFD receipts in every sales and services given, noting that the move will give significant contribution to the country.<\/p>\n

\u201cTaxpayers should submit accurate returns and make timely payment of taxes due,\u201d says the taxman in the statement.<\/p>\n

According to TRA, producers and importers of products charged with import duties should make better use of excise duty stamps.<\/p>\n

The taxman also wants taxpayers to timely service their tax debts and that stakeholders should keep attending trainings provided by TRA on tax capacity building education and tax systems supervision.<\/p>\n

Parliament on June 22, 2021 passed the 2021\/22 Budget after the government clarified a number of issues raised during the debate on the financial plan.<\/p>\n

The final Budget was raised to Sh36.68 trillion from the Sh36.3 trillion plan that was proposed by Finance and Planning minister Mwigulu Nchemba in his speech to Parliament on June 10.<\/p>\n

Apart from raising the Budget, the government also clarified that the new monthly Sim card levy ranging from Sh10 to Sh200 would depend on the ability of users to recharge their balances.<\/p>\n

It also said that despite complaints that the cost of electronic tax stamps (ETS) was too high, the government needed them in its revenue collection endeavours and plans.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Dar es Salaam . Despite Tanzania\u2019s economy being ravaged by Covid-19 pandemic, revenue collected by the Tanzania Revenue Authority (TRA) in the first half of the 2021\/22 Fiscal Year shades light of a bright future. This comes after TRA reported to have collected Sh11.11 trillion which is equivalent to 98 percent of […]<\/p>\n","protected":false},"author":84,"featured_media":44266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12,16],"tags":[6990,6991,711],"class_list":["post-44267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nTRA announces record revenue collections in half-year - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam . 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