Tax revenue collection surpasses almost reach targeting point

THE Minister for Finance and Planning, Dr Phillip Mpango said in Parliament on Tuesday that tax revenue collection for the period ending March in the current financial year reached 95 per cent of the target after Tanzania Revenue Authority collected 10.626tri/- against the target of 11.227tri/-. Tabling budget estimates for the ministry for the 2017/2018 financial year, the Minister said collection of up to March in the current financial year was up by 15 per cent compared to collections of the corresponding period in the 2015/2016 financial year. The government had set a target of collecting 15.105tri/- as tax revenue for the 2016/2017 financial year which ends on 30th of June, he said. Dr Mpango said tax revenue collection in the current financial year picked up over the previous year and is estimated to reach 15.105tri/- equivalent to 21.7 per cent above the levels of the 2015/2016 financial year. From non-tax sources, the Minister said revenue collection from non-tax sources up to March this year reached 500.13bn/- against estimates of 412.23bn/- which is equivalent to 121.32 per cent of the estimates. He said the nontax sources included 352.69bn/- dividend to the government from the Bank of Tanzania (BoT), Inflight Catering Service Limited, National Housing Corporation, IPS, TANICA, TCC, TLLPPL, and TPC. The Minister said other non-tax sources was 136.48bn/- from public parastatals which sent 15 per cent of their gross profit margin to the Treasury. According to the minister, the parastatals which issued the 15 per cent of their gross profit are Business Registration and Licensing Agency (BRELA), Capital Market and Securities Authorities (CMSA), Dar es Salaam Water & Sewerage Authority (DAWASA) and Energy and Water Utility Regulatory Authority  EWURA). Others are Gaming Board, Ngorongoro Conservation Area Authority, Sugar Board, Social Security Regulatory Authority (SSRA), Surface and marine Transport Regulatory Authority (SUMATRA), Tanzania National Parks Authority (TANAPA), TANTRADE, Tanzania Building Agency (TBA), Tanzania Bureau of Standards (TBS), Tanzania Civil Aviation Authority (TCAA), Tanzania Communications Regulatory Authority (TCRA), Tanzania Food and Drugs Authority (TFDA). Others are Tanzania Insurance Regulatory Authority (TIRA), Tanzania Ports Authority (TPA), TPRI, UTT AMIS, NACTE, NECTA, Mzinga, Osha, Forest Authority, and Weighs and measures Agency. Dr Mpango said another non-tax sources also included 10.96bn/- as revenue from Telecommunication Traffic Monitoring System (TTMS).