Dar’s domestic revenue collection was resilient in October despite external shocks

Domestic revenue collection remained resilient despite external economic shocks with available data indicating that 2.04bn/- was collected in line with the October 2022, the Bank of Tanzania (BoT) Monthly Economic Review for October 2022 shows.

According to the report, out of the total collections, central government revenue comprising of tax and non-tax was 1.96bn/- equivalent to 91.1 per cent of the target for the month and 8.5 per cent higher than collections during the similar month last year.

Tax revenue was 1.62bn/- equivalent to 91.2 per cent of the target and 3.9 per cent higher than what was collected during the similar month in the previous year.

“This outcome was largely owing to close follow up of taxpayers and leveraging technology in tax collection, including VAT e-filing ,” the report said.

Meanwhile, revenue collection by local governments was 86.6bn/- against a target of 85.9 billion.

Data from the BoT further indicates that external loans and grants worth 60.8bn/- and 10.1bn/- respectively were received by the Government during the month under review.