Rutashubanyuma
JF-Expert Member
- Sep 24, 2010
- 219,468
- 911,184
- Thread starter
- #361
If wishes were gold beggars would ride. This budget echoes ccm failed ones since independence. Just another tax and spend administrationYou are still slanting on grammatical sentences but it has nothing to do with the budget proposals.
Ain't an economic expertise but the agenda for the new government was well laid out - reviving investment which is essential for growth of jobs and income, putting in place a framework for monetary policy and fiscal consolidation to ensure low inflation and putting public finances on a sustainable path through tax and expenditure reforms.
It was in the above economic backdrop that Dr Mpango had to present the government budget 2016-17. Investment clearly has been the underlying theme in this budget. Realizing that growth rate of the economy is correlated with the investment rate, the budget contains proposals for the development of industrial and economic corridors, improving social services and with regions linked to transport connectivity, as cornerstone of the strategy to drive Tanzania's growth in manufacturing.
Mister Finance Minister's commitment to provide a stable and predictable tax regime that would be investor friendly and spur growth is welcome.
He also has recognized that one immediate imperative on the agenda of the new government "Hapa Kazi Tu" is the need to find a faster and better way to resolve tax disputes.
The budget proposals to extend the scope of advance rulings to cover residents and enlarging the scope of income - tax settlement would seek to minimise the scope for disputes and improve tax payer's experience in dealing with the tax administration.
The budget proposals would go a long way in addressing these concerns. The steps announced in the budget are only the beginning of a journey towards a sustained growth of 7.2% along with economic stabilization.