Tanzania reviewing all tax exemptions granted in past 5 years

“What the minister wants to establish are possible abuses of the exemptions as well as those which have no benefit to the nation.”
The  newly appointed Deputy Minister, Mwigulu Nchemba is quoted by The East African newspaper as saying the above statement, a move following the country’s Controller and Auditor General (CAG) subjecting to special audit all tax exemptions offered by the government in the beginning of the financial year 2012/2013 and whose report is to be issued this April.

According to the annual audited financial report for the year that ended in June 2012, the government lost Tsh1.81 trillion ($111.7 billion) to exemptions, up from Tsh1.02 trillion ($63 billion) reported in the audited financial report for 2010/2011.

A source in the ministry of Finance told The EastAfrican that Nchemba, has instructed officials at the ministry to prepare a detailed report of individuals and companies that received exemptions for the past five years, with details of how much they received and why. Click here to read more