DAR ES SALAAM: THE government is reshaping the tax system to boost domestic revenue, improve business predictability and competitiveness, attract investment and strengthen financing for the country’s long-term development ambitions under Vision 2050. The initiative has come as the government plans to deepen collaboration with global professional services firm KPMG on tax policy, revenue management … The post Govt deepens tax reforms for stronger growth appeared first on Daily News .
DAR ES SALAAM: THE government is reshaping the tax system to boost domestic revenue, improve business predictability and competitiveness, attract investment and strengthen financing for the country’s long-term development ambitions under Vision 2050.
The initiative has come as the government plans to deepen collaboration with global professional services firm KPMG on tax policy, revenue management and tax system reforms, drawing on technical expertise and international experience to support the reform agenda.
Minister for Finance, Amb Khamis Mussa Omar said that the government would continue strengthening the partnership, particularly in areas aimed at improving revenue collection and supporting sustainable economic growth.
He Minister was speaking recently during his meeting with KPMG East Africa management, led by Managing Director, Mr Alexander Njombe, in Dar es Salaam. Amb Omar said the government valued KPMG’s contribution through professional and advisory services that have supported reforms aimed at strengthening the national economy.
“The government appreciates the advice we receive from KPMG, particularly on policy matters. We value this partnership because it gives us an opportunity to gain a broader perspective and evidence that can help us improve our decisions,” he said.
He said the collaboration covered policy dialogue, professional and technical advice, as well as tax system reforms, noting that evidence-based expertise was important in ensuring policies reflected prevailing economic conditions.
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The minister said Tanzania could not undertake tax reforms by relying solely on government institutions, stressing the importance of drawing on private-sector expertise and international experience. He said KPMG’s presence in Tanzania and other African countries provided an opportunity to compare tax systems and learn from other economies, which could help improve the country’s tax environment.
The minister said the government had identified several areas for further collaboration as Tanzania implements Vision 2050, which seeks to build a competitive economy capable of creating opportunities and improving citizens’ livelihoods.
“National Development Vision 2050 belongs to all of us. We cannot say the government should do everything on its own when the private sector undertakes a large part of economic activity. We need to work together, consult each other and build initiatives that will help the nation achieve the goals we have set,” he said.
Oh his part, Mr Njombe said KPMG was ready to deploy its regional and global network and sector expertise to support Tanzania in accessing knowledge and best practices that could stimulate investment and development.
He said the firm could support the country particularly in technology and artificial intelligence, data-driven decisionmaking and operational efficiency
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