TRA seeks tax payment improvements with large taxpayers

LAKE ZONE: The Tanzania Revenue Authority (TRA) held a significant meeting with nearly 200 large taxpayers to address challenges and explore solutions for simplifying the tax payment process.

The discussion highlighted the vital role of large taxpayers, who contribute between 60 and 70 percent of the country’s revenue.

TRA Commissioner General Yusuph Mwenda emphasized the importance of addressing system challenges to meet TRA’s 2024/25 revenue target of 30.4 trillion/-, a notable increase from previous years.

“To achieve this ambitious goal,” Mwenda said, “we must address system challenges and ensure compatibility with stakeholders’ systems.”

Mwenda also reaffirmed TRA’s commitment to combating tax evasion and enforcing penalties on those using fraudulent schemes to avoid taxes, aiming to boost national revenue and ensure compliance.

TRA’s Acting Commissioner for Large Taxpayers, Michael Muhoja, echoed these sentiments, stressing the need for system upgrades to improve efficiency and alignment with partner entities.

ALSO READ: Geita TC sees 90pc surge in building materials revenue

He highlighted the importance of increasing public awareness about tax obligations to foster a culture of compliance.

Hamis, a representative from the National Social Security Fund (NSSF), praised the seminar for its insights on enhancing tax compliance and the importance of education in cultivating a culture of compliance.

“The knowledge shared at this seminar is crucial for helping businesses understand their responsibilities and the impact of their contributions to national revenue,” Hamis said.

TRA aims to increase tax revenue to 12.9 percent of GDP in 2024/25, compared to an expected 12.6 percent in 2023/24.