Magufuli launches new tax collection system
What you need to know:
The system was designed by the Tanzania Revenue Authority (TRA) in partnership Zanzibar Revenue Bureau (ZRB) purposely to monitor the collection Value Added Tax (VAT) and exercise duties.
Dar es Salaam. President John Magufuli has launched a new revenue collection system branded Electronic Revenue Collection System (ERCS).
The system was designed by the Tanzania Revenue Authority (TRA) in partnership with Zanzibar Revenue Board (ZRB) purposely to monitor the collection of Value Added Tax (VAT) and excise duty.
Speaking shortly before the launch on Thursday, President Magufuli asked telecommunication companies and financial institutions to start using the system. He said the system is very open and transparent for all transactions, furthermore it is simple to use and it offers accurate calculations.
"I humbly encourage all of you to join the government's move by using this new approach that brings a range of advantages," he said and ordered all ministries and government institutions to use the ERCS.
