TRA out to curb tax evasion

BabuK · 2012-01-18T15:46:53+00:00

The Tanzania Revenue Authority (TRA) has embarked on a comprehensive strategy aimed to control tax evaders registered under the value added tax (VAT). The strategy, applying the Electronic Fiscal Devices Regulation (EFD), will ensure that all traders registered under VAT are prohibited from conducting business without EFD machines. Speaking to journalists yesterday in Dar es Salaam, TRAs Tax Payers Education Services acting director Allan Kiula said the strategy aims to ensure that all traders entitled to pay tax do so. He said that until December last year, a total of 11,140 registered traders were using EFD machines, adding that the target was to bring on board soon all 12,060 traders registered to pay tax under VAT. Kiula said the total number of traders registered under the VAT currently using EFD machines is equivalent to 92.3 per cent, adding efforts are being made to make sure that the remaining 8 per cent also are made to use the devices. He said that traders having capital of 40m/- and above must administer sales by issuing receipts from EFD machines, failure to do that, they will be subjected to penalties and other disciplinary measures. He ended, According to the law on VAT, any trader who is registered under VAT, but he/she doesnt know EFD machines or doesnt use them will be fined 3m/- or jailed for 12 months or both. SOURCE: THE GUARDIAN

Thread starter BabuK
Start date Jan 18, 2012

BabuK

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TRA out to curb tax evasion

BabuK

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