Tanzania loses more than Sh4.79 trillion annually due to illegal transfer of money abroad

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Dar es Salaam. While Tanzania is estimated to have nearly five million registered taxpayers, the government continues to lose significant revenue due to incentives granted to foreign investors—ranging from tax exemptions to non-financial benefits.

A report presented in parliament by the ministry of Finance in September 2023 revealed that, by 30 June 2023, the Tanzania Revenue Authority (TRA) had registered approximately 4.7 million taxpayers—equivalent to just 16 percent of the country’s labour force.