Tanzania Revenue Authority collected taxes totaling 5.15 trillion shillings ($2.21 billion) in the three months through September, up from 4.39 trillion shillings during the same period a year ago.
Tanzania Cuts GDP Growth Forecast, Hikes Deficit
Revenue collection in the first three months of fiscal year 2021-22 was 94.3% of target, the tax agency said Sunday in a statement. The increased tax collection was attributed to higher tax compliance from mining, telecommunications and transport companies, it said.
The East African nation's tax revenue as a percentage of gross domestic product may rise to 13.5% in 2021-22 from an estimated 12.9% in 2020-21, according to the current fiscal year's budget proposal.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
