Heated debate pending as MPs deliberate budget

AS Members of Parliament (MPs) start debating the 2018/19 budget proposal today, PricewaterhouseCoopers (PWC) Tanzania has welcomed the government’s revenue and expenditure plan, particularly on assistance to domestic manufacturers.

In its Budget Bulletin released in Dar es Salaam over the weekend, PWC appreciated commendable move by the government to offer a sixmonth tax amnesty to indebted taxpayers.

“Such initiatives have proved successful in many other jurisdictions in bringing recalcitrant taxpayers in from the cold – creating a win-win for the taxpayer, now able to formalise and correct past errors or omissions without cost of penalties, and for the taxman, with additional revenue and potential wider tax base in cases of previously unregistered taxpayers. So, this is certainly an opportunity to wipe the slate clean and start afresh,” the company argued.

Finance and Planning Minister Dr Phillip Mpango tabled the budget last Thursday, unveiling the government plans to increase spending by 2.4 per cent to 32.48tri/- from 31.7tri/- as it seeks to upgrade allocations for infrastructure development, education and water projects.

The 2018/19 budget that will finance the third year of the ambitious Five-Year Development Plan II (2016/17 - 2020/21) is focused to build an industrial economy that will stimulate job creation and sustainable social welfare, the minister said. Development expenditure will take 12.007tri/- or 37 per cent of the total budget, with 9.876tri/- coming from domestic resources and the rest from foreign financing.

To finance the budget, domestic revenue collection is expected to reach 20.89tri/- equivalent to 64.3 per cent of the total budget. Tax revenue collection is projected at 18tri/-, which is 13.6 per cent of GDP and 2.16tri/- will be from non-tax revenue. Local government resources are expected at 735.58bn/-.

As for the current budget that ends this month, there have been no dramatic tax changes in the proposed budget, which focuses on long term growth and tax compliance.

Big relief is expected on the transport sector as no tax hikes on fuel has been proposed, meaning there will be no pressure from tax measures to drive the fuel prices up. Rising fuel and food prices are behind rising inflation in many developing countries.

The government also plans to retain the current duty rates on locally produced non-petroleum products to accelerate industrialisation, suggesting that prices for the locally produced soft drinks, alcohol and cigarettes will most likely not rise in the next fiscal year.

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