(3 Minutes Read)
Some of the costs proposed for reduction include the electronic tax stamp (ETS) cost, which TPSF said should be reduced by 55% to lower production costs in the manufacturing sector. In the agriculture sector,
The Tanzania Private Sector Foundation (TPSF) has listed about 50 consolidated proposals for tax and other charges reforms in an attempt to reduce operating costs, stimulate investment, and increase the competitiveness of local products.
Some of the costs proposed for reduction include the electronic tax stamp (ETS) cost, which TPSF said should be reduced by 55% to lower production costs in the manufacturing sector. In the agriculture sector, TPSF is proposing preferential treatment by reducing corporate tax from the current 30% to 10% for agribusiness for three years to compete with countries in the East African Community and SADC regions.
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Some agriculture companies have been seeking VAT refunds that remain unsettled since 2017. Other proposals include the removal of the levy on mobile money withdrawals to reduce costs.
