.jpg)
.jpeg)
.HEIC)
.jpg)
Paying tax in Zanzibar is burdensome for entrepreneurs due to the large number of entities involved .
Taxes have to be paid to the Tanzania Revenue Authority (TRA), the Zanzibar Revenue Board (ZRB), and municipal authorities.
A typical medium size company makes 48 payments, pays 40.8 per cent of its commercial profit in taxes, and spends 158 hours per year on tax compliance—including 26 hours for corporate income taxes, 60 hours for labor taxes, and 72 hours for the value added tax (VAT).In addition, businesses are subject to local taxes regulated by municipal, town, and district councils. The existence of many tax-collecting entities is drying out businesses and discoourages investors or even enterprenuers. Government should look into this matter.
Courtesy : East African newspaper
On top of that tax barden there is nothing in return, as incentive; like good infrastructure, adequate business legislative service, etc. We realy need to know where all that tax revenue goes.
ReplyDelete