THE Tanzania Investment Centre (TIC) and the Tanzania Revenue Authority (TRA) have agreed to form a joint team of experts to address tax-related matters, including investor grievances

Gilead Teri, the TIC director general, said at a press conference following their meeting yesterday, that the aim was to provide investors with direct access to the relevant authorities on tax issues.

Key outcomes from the meeting include enhancing collaboration between the two institutions and creating a consolidated unit to tackle investor challenges relating to TIC and TRA spheres of operations, he said.

TIC is working with TRA to promote investments and ensure that Tanzania remains an attractive destination for investors, he declared, while TRA commissioner general Yusuph Mwenda asserted that the initiative is intended to ensure investors receive rightful entitlements as taxpayers.

 "We have formed a team to address issues affecting investment so as to work together effectively," he said, expressing TRA assurances to taxpayers of its commitment to upholding high standards of professionalism in tax enforcement and addressing grievances or concerns.

"We promise to provide the best service. These complaints are temporary,” he stated, reiterating intentions to maintain professionalism to ensure fair tax collection and encouraging voluntary compliance.

At a different note, TIC and TRA invited investors to a dialogue on October 31 to discuss extant grievances or challenges they face, in the wake of a recent ‘Business Ready 2024’ report by the World Bank.

It pointed to an improvement in the state of doing business in the country, with Tanzania coming second among East African countries in rankings on best destinations for doing business.

It said Tanzania stands at a very good position in its development journey if it can enhance its business environment, drive sustainable growth and improve the quality of life for all its citizens. 

Through strategic reforms and investments, Tanzania has the potential to become a leading example of economic resilience and innovation in Africa, the report added.