NMB Bank PLC emerged the overall winner of the 2022 Tax Payers Awards during the Gala night organized by the Tanzania Revenue Authority (TRA) in Dar es Salaam last week.
The awards recognize and celebrate businesses and individual taxpayers who have been compliant in remitting their taxes during the respective financial year.
Apart from the scooping the Overall Tax Payer Award, NMB also won the National Largest Tax Payer in the Financial Services Award while emerging 2nd runner-up in Large Tax Payers category across all sectors, bringing the total number of the wards won by the bank to three.
Speaking shortly after receiving the awards, the NMB Bank Chief Executive Officer Ruth Zaipuna said the awards validates the bank’s commitment to be tax compliance and contribution to the social and economic development of the Tanzania.
The award, she said, had been made possible by the company’s leadership and employees’ continued commitment to uphold best in class operating standards.
“Regulatory compliance is a core pillar of our corporate governance structure and these awards should reinforce our drive to uphold compliance as part of our five values at NMB. These awards have yet proven that – as Tanzania’s largest bank – our success translates to the prosperity of millions of our fellow Tanzanians. I thank our employees for being diligent to their work and for their unwavering commitment to fuel the growth of our Bank and the Nation at large,” Zaipuna said.
Zaipuna added, “As we celebrate this important recognition, we will continue subscribing to best in class operating and compliance standards in all our areas of work as we seek to increase our contribution to the economy and solidify our position as a true partner in supporting Tanzania’s development agenda”
The Minister for Information, Communication and Information Technology, Nape Nnauye during the event noted that the taxes collected during the financial year enabled the Government to implement various development projects across the country.
“The Government recognizes the role of tax payers in the country’s development process. Without these taxes, the Government will not be in position to implement development projects in full-scale so as we celebrate today, I would like to take this opportunity to thank companies and individual for being tax complaint,” he said.
He during the event commended the Tax man for realizing the set tax collection targets and urged TRA to continue building mutual relationships with tax payers that will enhance voluntary tax payment.
“Collecting 22.28trn/- in taxes being a 99 percentage of 22.4trn/- target is a very big achievement ns I recommend TRA’s management and staff for this achievement,” Nnauye said.
Nnauye during the event reiterated Government’s commitment to continue to improve the business environment across the country to enable both local and foreign businessmen to operate in a more conducive environment.