Tanzania removes VAT on all World Bank projects-Magufuli

Magufuli made remarks at the launching of modern Korogwe bus terminal which sponsored by WB worth 4bn/-. “When the WB disburse a soft loan to any government institution, the Tanzania Revenue Authority (TRA) wants to collect VAT, so we have decided to remove VAT because it hinders smooth development of the intended projects.”

Tanzania removes VAT on all World Bank projects-Magufuli

Magufuli made remarks at the launching of modern Korogwe bus terminal which sponsored by WB worth 4bn/-. “When the WB disburse a soft loan to any government institution, the Tanzania Revenue Authority (TRA) wants to collect VAT, so we have decided to remove VAT because it hinders smooth development of the intended projects.”

07 August 2017 Monday 13:55
Tanzania removes VAT on all World Bank projects-Magufuli

By Felix Andrew

THE government of Tanzania has removed Value Added Tax (VAT) on all World   Bank (WB) projects implemented in the country, the move aims at ending confusion among authorities, and assured to continue honoring the WB contracts.

“When the WB disburse a soft loan to any government institution, the Tanzania Revenue Authority (TRA) wants to collect VAT, so we have decided to remove VAT because it hinders smooth development of the intended projects,” said President John Magufuli.

Magufuli made remarks at the launching of modern Korogwe bus terminal which sponsored by WB worth 4bn/-.  President is in Tanga for five-day official visit.

The President also said he had already directed officials from the Ministry of Finance and Planning, President’s Office Regional Administration and Local Government (PORALG) to amend the law next month.

President Magufuli said the WB dished out over 483bn/- for construction of new modern bus terminals in eleven regions.

Bella Bird, WB Country Director for Tanzania, Burundi, Malawi and Somalia

On his part, the Deputy Minister in the PORALG, Suleiman Jaffo wanted the contractors who have been assigned into various project to speed up performance so as to complete the work in time.

“We would not hesitate to take stern measures against any contractor who would breach the contract and make the project fail,” he stressed.

Jaffo also said the WB has disbursed USD 213million for construction of modern dumpsites in all major cities and municipalities.

Azania Post

Updated: 07.08.2017 14:03
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