Speaking separately after a meeting convened here by the Minister of Finance and Planning, Dr Philip Mpango, the TPSF Director of Membership, Mr Louis Accaro said the expected tax reforms would ‘mean a lot for the business community.’
“In fact, all of us were impressed by the way the government through Minister Mpango assured the private sector that the current tax system would be improved for the betterment of doing business and attract more investments,” he pointed out.
He said the private sector was happy on the government’s readiness to work on their views to improve the tax system and that consultations between the government and private sector were very crucial in building the mid-sized economy and industrial base.
“The tax system has been a centre of friction between the private sector and government, when getting direct consultations every now and then, hopefully we can move forward this time,” he said.
According to Mr Accaro, the private sector was willing and ready to cooperate with the government all the times and commended the meeting, saying it would help to address their challenges. Earlier, Mr David Tarimo from Price Waterhouse Coopers advised the government on the sector tax system, saying there were plenty of ‘nuance taxes’ which contribute to high industrial goods production compared to imported ones.
“We have been advising the government on the matter. The high cost of producing locally made goods has been difficult to address and compete in foreign markets,” Mr Tarimo explained, urging that the government should address the matter urgently.
In his opening speech, Dr Mpango said the government would continue to involve the private sector on issues related to tax, adding that such a meeting is important for both sectors. “It is not secret that this meeting is very fruitful for all of us, since good views and recommendations are being made and shared. I promise to work on challenges aired during the meeting,” he said.
The government through the ministry convened the meeting with the representatives of TPSF with the view to discussing the taxation systems in the country.
Courtesy: Daily News (TSN)