Charles Mandela
JF-Expert Member
- Dec 9, 2011
- 2,752
- 2,282
What did Republican senator say about Tanzania?The level of taxation kills jobs and thwart economic growth let alone decelerating tax compliance rates.
A three year sentence for not picking a sales receipt is point in hand.
How many are we going to imprison before we are awaken to a reality tax rates too high.
Higher levels of taxation confirms a concession that official graft is not going anywhere but we frantically need heavy subsidy to sustain it.
Poor grades for your employers. They preach one thing but delivers something else!
Small and medium businesses are driving jobs growth in Tanzania and must continue to do so. They are also most overwhelmingly Tanzanian owned and more likely to reinvest their earnings in future growth, as they seek to build their businesses.You are prejudiced. Best prezzy in comparison with whom? Iddi Amin Dada? Kwame Nkrumah? Nyerere? Mobutu?
How do you reach this conclusion where the economy continues to nosedive and more people are locked out of formal employment with informal one subjected to taxation levels unprecedented in our post independence era?
A tax on their businesses is a tax on their enterprise and the jobs they provide. This year we go further and share the ambition for smaller businesses to become bigger businesses. As we all know you cannot be a business person without paying tax.
From 1st July this year, the business tax rate will be increased and the threshold for business able to access it will also be increased. But government don't want these businesses to stop there. The government introduce environmental conditions that will favor our business sectors. Each year government will continue to step up the threshold for access to the standard company tax rate for more businesses.
We will not be able to rely only on our natural advantages in resources to secure jobs of the future like we have in the past. If we wish to continue to see our living standards rise with more jobs and higher wages, we need to ensure our tax system encourages investment and enterprise.