Tanzania's private sector urges gov't to reduce tax to boost business

Source: Xinhua| 2018-11-26 00:37:54|Editor: Mu Xuequan
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ARUSHA, Tanzania, Nov. 25 (Xinhua) -- The Tanzania Private Sector Foundation (TPSF) on Sunday urged the government to reduce the Value Added Tax (VAT) from the current 18 percent to 16 percent in effort to improve business environment.

Valency Mutakyanirwa, TPSF's director of operation, made the appeal in the country's capital Dodoma during stakeholders meeting to discuss national business environment.

He said TPSF constantly appeal to the government to see how best to reduce VAT so as to allow business community and investors to have conducive business environment.

"Despite the government reduction of VAT from 20 to 18 percent, we appeal for further reduction to at least 16 percent for more improved business environment," he said, adding that the current Tanzanian government has shown the right directive through the Blueprint but a lot more need to be done.

According to him, the Blueprint lays down the foundation for the Fifth Phase Government's resolve to achieve an industrial economy for Tanzania.

It states a key task in this regard is to enhance a conducive business environment by carrying out holistic regulatory reforms.