When companies flee US tax system, investors often don’t reap big returns

>Tourism investors in Kenya cried foul over a massive airlift of hundreds of foreign tourists from the country by Britain, Australia and France who cited insecurity concerns.

Chairman, Tanzania Chamber of Minerals and Energy, Ami Mpungwe (Photo by Library).

Finance minister Saada Mkuya said when presenting the government’s 2015/15 Budget that tax exemptions would be reduced to less than two per cent of GDP.     

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Don't frustrate investors, JK tells officials
IPPmedia
President Jakaya Kikwete opens Public Service Commission 10th anniversary concert at Julius Nyerere International Convention Centre in Dar es Salaam yesterday. (Photo: Halima Kambi). President Jakaya Kikwete has warned permanent secretaries and ...

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MetroNews Canada
A Canadian sailor who died in Tanzania last week has returned home. The body of Leading Seaman Brandon South landed at the Victoria International Airport on Wednesday, where a repatriation ceremony was held. Supporters lined the Pat Bay Highway on ...
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CFB Esquimalt sailor who died in Tanzania comes homeTimes Colonist
Leading Seaman Brandon South...

The Bank of Tanzania (BoT) yesterday adjusted the time of tax payment through its system called Tanzania Interbank Settlement System (TISS] .

Consider the following: Tanzania lost USD 2.9 billion between 2008 and 2011 through illicit financial flows; USD 1.2 billion in the 2011/2012 fiscal year through tax exemptions; and USD 305 million through uncollected customs revenue.

Effective provision of basic services is critical for poverty reduction in Tanzania as in many developing countries, and contributes to state legitimacy. Failures in service delivery are a key reason that people fall into poverty, for example through ill...