Tanzania collects 2.05trn/- domestic revenue in October 2022

Domestic revenue collection in Tanzania remained resilient despite external economic shocks and was broadly in line with the October 2022 target, amounting to 2.05trn/- according to the latest Bank of Tanzania (BoT) Monthly Economic Review for November 2022.

Out of the total collections, central government revenue comprising of tax and non-tax was 1.96trn/- equivalent to 91.1 per cent of the target for the month and 8.5 percent higher than collections during the similar month in 2021.

Tax revenue was 1.62trn/ 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 collections by local governments was 86.6bn/- against a target of 85.9bn/-

“External loans and grants worth 60.8bn/- and 10.1bn/- respectively were received by the Government during the month under review,” the report said.