NO LOOPHOLES IN NATIONAL BUDGET IMPLEMENTATION

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Mwananchi Communications Limited

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It therefore comes as no surprise that the national budget tabled by Tanzania for 2022/2023 has a strong focus on stimulating the economy and mitigating the cost of living

As Minister of Finance Mwigulu Nchemba presented Tanzania’s Sh41.4 trillion budget for 2022/2023, the different focus areas as pin-pointed by the government have been dissected by analysts from various sectors ranging from banking, accounting, auditing and the political sphere. Some have applauded the government’s elaborate intent to fortify the economy by addressing the challenge of spiraling fuel prices, however, others have criticised some of the proposed reforms especially regulatory in as far as tax is concerned, with the abolition of the Value Added Tax (VAT) exemption on gadgets raising concern that the digital drive that has been fervently pushed by the Ministry of Information, Communication and Information Technology will be set back a couple of years. But also, this move threatens the intentional efforts to bridge the digital access gap between Tanzanians living in urban settings and those found in the rural areas or city outskirts due to increase in price of gadgets.

NO LOOPHOLES IN NATIONAL BUDGET IMPLEMENTATION

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