ONOMO Hotel Dar es Salaam

Tanzania Invites Stakeholders to Participate in Tax Reform Task Force for 2024/25 Budget: Submissions Due by 31st March

Tanzania Ministry of Finance and Planning

The Ministry of Finance of Tanzania has officially announced the commencement of the Task Force on Tax Reform’s proceedings in preparation for the 2024/25 budget, set to begin in February 2024.

This initiative is part of the broader National Tax and Investment Conference for the year 2024, which aims to provide a structured platform for discussing tax policy and administration issues.

In its public notice, Dr. Natu E. Mwamba, the Permanent Secretary of the Ministry of Finance, explains that for years, the Task Force has played a crucial role in shaping Tanzania’s tax regime, offering policymakers valuable insights through its deliberations.

TanzaniaInvest Whatsapp Channel

These discussions have led to the development of a more effective, transparent, and efficient tax system, addressing various challenges and facilitating dialogue and analysis.

In this financial year 2024/25, the Task Force Secretariat plans to organize a series of meetings with stakeholders for presentations and discussions.

The government will lead these sessions, providing updates on policy objectives, challenges, and tax policy priorities for the upcoming budget.

This initiative is designed to foster a comprehensive understanding of this year’s fiscal policy measures, which aim to enhance the business environment, support small and medium enterprises, improve tax compliance, broaden the tax base, and strengthen tax law enforcement.

Stakeholders, including government officials, private sector representatives, civil society, religious organizations, academia, and public finance specialists, are invited to submit proposals.

These submissions should detail the organization represented, proposed changes in tax or non-tax revenue, the impact on the economy and government revenues, and the rationale behind these changes. Proposals that suggest a reduction in government revenues must also offer alternative measures to offset the shortfall, aligning with the government’s fiscal policies.

RELATED:  Tanzania To Establish Single Tax Collection System For Businesses

The Ministry of Finance is eager for a productive exchange of ideas and encourages submissions by 31st March 2024, through their online portal or by hard copy to the Task Force Secretariat at the Ministry of Finance and Planning.

This process is an opportunity for stakeholders to contribute to the development of a tax system that supports Tanzania’s economic, fiscal, and poverty-reduction objectives.

For further details or to submit, stakeholders can visit the Ministry of Finance’s website or contact the Secretariat directly.

Contact Information:

Related Posts