CTI endorses 2026/27 budget, warns of tax challenges
DAR ES SALAAM: T HE Confederation of Tanzania Industries (CTI) has backed the 2026/27 national budget, describing it as a step toward improving the business environment. However, the industry group cautioned that some proposed excise tax changes could increase production costs for manufacturers. CTI Chairman Hussein Sufian told reporters yesterday that the budget seeks to balance revenue mobilisation with measures designed to stimulate economic activity. “A key highlight of t
The Confederation of Tanzania Industries (CTI) has expressed support for the 2026/27 national budget, highlighting its potential to enhance the business environment. The organization acknowledged efforts to reform tax systems and reduce administrative burdens. However, CTI raised concerns about proposed excise tax changes that may increase production costs. The budget includes measures like a single-window payment system and tax exemptions for new businesses. These initiatives aim to lower compliance costs and encourage formalization of small and medium enterprises. CTI also noted potential issues with proposed amendments to the Excise Act, including higher taxes on cigarettes and wheat bran. The group emphasized the need for tax adjustments that do not harm local industry competitiveness. The budget reflects a 10.3% increase from the previous fiscal year's allocation.
The budget's reforms and tax adjustments have significant implications for business operations and economic growth in Tanzania.
📌 Kaynak
Bu haber XML kaynağından derlenmiştir. Tamamı için orijinal habere gidin.
Orijinal haberi oku →