Sh94 billion goes missing from Taxman’s books, CAG reveals

Dar es Salaam. A total of Sh194 billion, which was supposed to be debited to Railway Assets Corporation (Rahco) from Tanzania Revenue Authority (TRA), has gone missing.

This is according to the audit report for the year 2016/17 handed to President John Magufuli on Tuesday by the Controller and Auditor General (CAG), Prof Musa Assad.

The CAG said the cash was yet reach its final destination.

Another audit conducted at Rahco showed that a total of Sh20 billion was spent on a feasibility study for a project that was never implemented.

“If you conduct a feasibility study and you don’t implement the project, then public fund is lost in the process,” he observed.