19 C
New York
Wednesday, September 28, 2022

Latest Posts

Government abolishes E-levy after public outcry

 

The Government of Tanzania has announced the abolition of a number of electronic levies (e-levies).

The levies were recently introduced to help the President Samia’s Government raise more tax revenues. The levies had taken effect on August 15, 2022.

But following a public outcry, the government was left with no choice but to abolish the levies.

Tanzania’s Minister of Finance and Planning, Dr Mwigulu Nchemba, announced the abolition of the levies in Parliament on September 20, 2022.

In his address monitored by www.africanentertainment.com, the Minister pointed out the Tanzanian Government had reduced the scope of charges, stimulating the use of electronic transactions to reduce cash, simplifying charges and preventing double taxation on the same income.

He stated that “The amendments made are to cancel the levies for transferring money from banks to mobile networks (both sides) and to cancel levies for transferring money within one bank.”

The Minister went on to mention that another amendment that the has made is to cancel the fee for transferring money from one bank to another bank.

‘New Changes take effect soon’

According to him, government has decided to waive the transaction fee on withdrawal of cash through bank agents and ATMs for transactions with a value not exceeding Sh30,000.

The Minister added that the new changes will come into effect on October 1, 2022, announcing that the Government has decided to abolish withholding tax on rental properties which were to be collected by tenants and instead the responsibility has been returned to the Tanzania Revenue Authority (TRA) in a manner that will be specified in the regulations.

He says “I would like to emphasize that the withholding tax is not for the tenant but should be paid by the landlord who receives income from investment or rental business.”

Tanzania has about eight telecommunication namely: the government-owned Tanzania Telecommunication Company Limited (TTCL), the privately-owned companies Airtel Tanzania, Smart Telecom, Vietel Tanzania Limited (Halotel), MIC Tanzania Limited (Tigo), Vodacom Tanzania, SMILE, and Zanzibar Telecom Limited (Zantel). The East African nation also has several commercial banks and a growing electronic payment system.

 

Email your story to: tarluemelvin12@gmail.com 

Whatsapp: 00233543452542

For advertising, media relations and music promotion,  check out the following:

 

Latest Posts

spot_img

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.