New law gives Taxman more powers

New law gives Taxman more powers

Sat Mar 28, 2015

Parliament yesterday passed the Tax Administration Bill, 2014 with a view to easing the management of tax and enforcement of related laws by the Tanzania Revenue Authority.

The new Bill will also introduce a currency point system in tax administration and provide matters incidental thereto. The Bill was read in November for the second time by Finance minister Saada Mkuya Salum.

However, passage of the Bill in the National Assembly in November failed to take place due to absenteeism by Members of Parliament (MPs).

House chair Musa Azzan Zungu adjourned the session prematurely to a later day for endorsement.

If President Jakaya Kikwete is to accent and sign the Bill into law, any person who aids, abets, counsels or induces another person to commit an offence under the law commits an offence and shall be liable, on conviction to imprisonment for a term of not less than one year and not more than two years.

The Bill further provides for harmonised and streamlined penalties and offences that cater for any tax law administered by the Tanzania Revenue Authority (TRA).

It also covers offences and penalties for failure to maintain documents, filing returns, making false or misleading statements, aiding and abetting in commission of offences for the purpose of putting in place stringent enforcement measures.

The Bill also provides for the Commissioner General’s powers to compound offences committed under any tax law for speedy and less cost resolution of tax disputes.

The new law will also provide for the powers of search and seizure of premises and assets for purposes of tax recovery and prevention of tax evasion.

The Bill further provides in this part for powers to publish tax offenders for purposes of discouraging commission of tax offences and voluntary tax compliance.

Tabling the Bill last year, the Finance minister insisted that the legislation would remove the existing weaknesses found in the current law.

SOURCE: THE CITIZEN

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