Budget 2020: Government has so far collected 93.2 of targeted revenue

Thursday June 11 2020

 

By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

Dar es Salaam.  The government had until April this year collected 93.2 per cent of the targeted Sh33.11 trillion revenue collections for the current financial year.   

Presenting the government’s budget for the 2020/21 fiscal year Finance and Planning minister Philip Mpango said some Sh26.13 trillion were collected until April.

This suggests that the government has been collecting an average of Sh2.613 trillion per month.

Until April, the government had remained with a task of collecting Sh 6.98 in two months if it was to hit the target of Sh33.11 trillion for the current financial year.

This suggests that the government was required to collect an average of Sh3.49 trillion on the monthly basis if it was to hit this year’s target, which ends on June 30.

Under the period in reference, Dr Mpango said tax revenue collected by the Tanzania Revenue Authority (TRA) stood at Sh14.64 trillion.

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The amount is equivalent to 93.5 of the target.

“Between July last year and April 2020, TRA’s revenue collection jumped by 13.6 per cent compared to the same period in 2018/19 financial year,” noted Dr Mpango.

He attributed the trend to improvement in tax administration systems and proper use of electronic Fiscal devices (EFDs).

He also connected an upward trend with education and improvement in tax payer services.

 “Now there is more compliance in payments of tax because people are feeling the pinch of their money,” noted Dr Mpango.

Backing his sentiment, he said, the government  has improved economic and social services including water, education, health, infrastructure.

 He added that the government had scrapped various charges and fees with a view to improving business environments.