Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. The government’s proposal to introduce a 10 percent withholding tax on retained earnings after six months has sparked concern over its potential impact on business expansion, reinvestment, and the broader investment climate.
Finance Minister, Dr Mwigulu Nchemba, announced the amendment to the Income Tax Act, CAP 332, when tabling the Sh56.49 trillion budget for the 2025/26 financial year.
