| JK cautions EAC over uniform tax regime | Send to a friend |
| Friday, 11 November 2011 22:15 |
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The Citizen Reporter Dar es Salaam. President Jakaya Kikwete yesterday cautioned tax experts from the East African Community (EAC) member states to ensure the process to harmonise domestic tax in the region does not harm competition or fall out. Tax harmonisation is part of the EAC integration agenda, where partner states agreed to harmonise their monetary and fiscal policies with the key objective of eliminating tax distortions, to effect a more efficient allocation of resources in the common market and enhance trade. “It’s important that the process is undertaken in a way that would not disadvantage any of the member states. It should be a win-win situation that would not cannibalise any of the countries,” said President Kikwete when opening a two-day meeting that is organised by the East African Business Council (EABC) in collaboration with the EAC Secretariat in Dar es Salaam yesterday. He warned that the bloc should not have domestic taxes that promote smuggling of goods and interfere with the gains made in the integration process so far, adding that avoidance of tax distortion was crucial in enhancing trade in the region.President Kikwete reiterated the government’s commitment to see the integration process at its highest level, challenging the business community and the private sector to take the lead. EAC's Treaty under Article 127, compels partner states to promote a continuous dialogue with the private sector to help create an improved business environment for the implementation of agreed decisions in all economic sectors.According to the President, the future of the regional bloc is promising and the players have just put in more efforts to add into gains realised in the six years of custom union. Add this page to your favorite Social Bookmarking websites           |
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Much appreciated.
Lilian
Lilian,
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