TRA given 3 months to recover Sh1.5 billion from several firms
What you need to know:
Geita Goldmine is also on the list of the companies that the committee directed should be targeted.
Dar es Salaam. The Parliamentary Public Accounts Committee (PAC) yesterday gave the Tanzania Revenue Authority (TRA) three months to recover Sh1.5 billion from companies and institutions that had misused tax exemption.
Geita Goldmine is also on the list of the companies that the committee directed should be targeted.
PAC also directed CAG to audit all companies that were granted tax exemption, but misused it.
PAC deputy chairman Aeshi Hilal said yesterday when his committee met with TRA to assess its TRA functioning and review the current CAG’s audit report.
On Value Added Tax (VAT), the committee directed TRA to increase tax collection to recover a total of Sh29 billion from false declaration for previous years and also insisted the recovery Sh89 billion for the financial 2013/14 year.
He said the authority should also improve investigation and examination of VAT returns system in order to identify businesspeople and companies, who were giving false information on VAT returns and make sure the relevant tax revenue was collected.
On property management, which amounts to Sh31.4 billion, the committee wants the authority to ensure all assets to bear a respective title deed and be entered into the asset register.
“We commend a good job made by TRA, but we want you to work on all areas that have weaknesses resulting in loses of government revenue,” he stressed.
Speaking, commissioner of TRA Alphayo Kidata thanked the committee and promised to work on all ther directives in three months.
