2014/2015 BUDGET: 15pc duty on imported cement

>Finance minister Saada Mkuya yesterday tabled a budget that seeks to rein in lavish spending as it abolishes expensive tax exemptions. But even though the government promised to reduce the cost of living, the budget presented yesterday did not demonstrate clearly how the man on the street would get relief when it comes to daily household expenses.

>The government is to introduce tighter controls on public expenditure as it seeks to increase financial discipline among public officials amid dwindling revenue collections.

>The government has increased the amount of capital for foreign strategic investors from Sh32 billion ($20 million) to Sh80 billion ($50 million) in order to enable the government to allow tax exemption to essential investors who contribute to the development of the country’s economy.

>The government will continue imposing heavy taxes on  normal products such as cigarettes, beer, wine and soft drinks as usual in a bid to boost the Sh19.5 trillion 2014/2015 budget.

>The national budget unveiled in Parliament yesterday remained largely silent on how the government was going to tackle climate change.

>Mobile phones customers are no longer subjected to excise duty on money transfers through banks, non-bank financial institutions and telecommunications companies.

>The government yesterday outlined eight priority areas in its 2014/15 Budget geared at lowering the cost of living in the country as well as improving social services.

The East Africa Cement Producers Association (EACPA) has appointed Reinhardt Swart the Managing Director of Tanga Cement Company the chair of its Tanzanian chapter, with effect from 1 August 2015 for the next three years.
The East Africa Cement Producers Association (EACPA) brings together cement manufacturing companies from Kenya, Uganda, Tanzania, Rwanda and Burundi.  EACPA TZ is a chapter of the East Africa Association which includes Kenya, Uganda, Burundi, Rwanda, and Tanzania. EACPA...

>MPs debated budget estimates for the Prime Minister’s Office (PMO) for a third day yesterday even as available data equates the entire process to a mere hoax and sheer loss of taxpayers’ money.