TRA Sets 15-year Revenue Record Collecting Sh 16.69 Trillion in 9 Months

Data released by Tanzania Revenue Authority (TRA) shows that, so far, the taxman has gathered Sh16.69 trillion during the first nine months of the current financial year which is 97.3 percent of the set target of Sh17.15 trillion during the period,

The collections are quivalent to a monthly average revenue collection of Sh1.854 trillion.

This is one of the best performances of the taxman for a period of about 15 years making it easy for the government to implement the current budget as revenue collections are almost in line with targets.

“Actual budget implementation has reached an all-time high: at an average of 93.6 percent… This is the highest budget implementation level for the government… In fact, some councils have received allocations of up to 160 percent,” the Finance and Planning minister, Dr Mwigulu Nchemba, told editors in Arusha last month.

Going by the 2021/22 budget, TRA was required to collect Sh22.73 trillion to partly finance Tanzania’s Sh36.3-trillion revenue and expenditure plan.

With Sh16.69 trillion already garnered within nine months, the taxman said it is now required to collect only Sh6.04 trillion – an average of Sh2.013 trillion – per month.

TRA collected Sh2.3 trillion in tax revenue in December 2021, a record collection in the country’s history. In March 2022, it garnered Sh2.06 trillion, which was above the set Sh1.98 trillion target.

“The collections were mainly with the rising willingness to pay taxes; improved relations between the Authority and taxpayers; timely resolve of issues, and the current growth of business and economic activities in the country.” TRA Commissioner General, Mr Alphayo Kidata.

Mr Kitada further added that the success in collecting tax revenues ensures the financing of government development projects, as well as improvement in the access to public services such as social, health and security services.

However, regardless of the success obtained in the nine months of the current fiscal year the taxman indicated that plans are nothetheless in place to further improve collections.

Some of the strategies that it plans to implement include starting to use electronic systems for the presentation of the value-added tax (VAT) from April 2022, as well as increasing the pace of clearing cargo at all entry points.

Read also; IMF in Talks with Tanzania Over Potential $700 Million Loan.

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