By Azania Post Reporter
The Tanzanian firm, Basil & Alred www.basilalred.com has commended the proposed national budget for 2017/18, saying the budget presented in the Parliament by the Minister for Finance and Planning Philip Mpango is good, but didn’t addressed adequately measures that are going to be taken to the growth of the agricultural sector.
“The Budget hasn’t addressed adequately measures that are going to be taken which will be a catalyst to the growth of the sector, which will lead to increased employment of Tanzanians and help eradicate poverty at the family level,” Basil & Alred Managing Partner Godfrey Mramba told Reporters in Dar es Salaam on Monday evening during Budget Presentation for its clients.
Mramba added: “I would like to thank the Finance Minister and the government as whole for this willingness to work with the Private sector in addressing issues affecting Investors and Entrepreneurs, but should make a little bit changes to improve the 2017/18 budget because as accountants, we see problems faced everyday by our clients by virtue of our work.”
Speaking on his view for industialisation, Mramba said that further steps need to be taken to attract new investors and for existing investors to help them grow even further.
“On this it is important to separate large industries from small, small industries need additional attention, for example a Police for leading to small industries so that they can access loans because most of them are un-bankable. Access to loans without collateral,” he said
In illiquidity of the Economy, he noted: “Banks are becoming increasingly unable to lend, although the Minister has indicated that will take steps, we are unsure that the steps announced will be adequate for the size of the problem.”
On his part, Alais Mwasha a Partner with Basil & Alred, expert in taxes said: “With the scraping taxes from road licences to fuels, the government will collect higher taxes, because even those who do not have vehicles such as farmers in rural areas will pay taxes in kerosene.”
He added: “What I am expecting to see is more revenue to the government while the poor in villeges will suffer the consequences, because we expect to see the increase of transport cost, the goods, foods and others. When the prices for fuel invcrased, definitely the cost for the service industry will also increase.
However, he also said that At Basil & Alred, they help clients comply with the law by assisting them in the areas of Value Added Tax (VAT), Pay As You Earn (PAYE), Corporate Tax, Individual Tax and Withholding Tax. Its services include preparation of monthly, semi-annual and annual returns.