President Samia Suluhu Hassan in her Labour Day speech in the northern Mwanza government is the talk in town after she promised to reduce the income tax rate by 1 percentage point to 8%, in the 2021/22 financial year beginning in July, and also planned to remove “unfriendly taxes and charges to Tanzanians”.
“Due to steps I’m planning to take by removing unfriendly taxes and charges to Tanzanians, tax revenues will decline for a short period and will later increase,” she said.
Her speech comes after she instituted a committee tasked on searching for better ways of preventing the spread of COVID-19 in Tanzania. President Suluhu's speech has been welcomed warmly in Tanzania as many people have lost their livelihoods due to devastating effects of COVID-19.
President Suhulu also promised to better business environment to attract foreign and local investors to bring up business.
She urged Tanzanians to stay committed and focus ahead as they battle Covid-19.
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