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Despite registering around 4.7 million taxpayers—just 16% of its labour force—Tanzania is grappling with an annual loss exceeding Sh4.79 trillion due to the illegal transfer of money abroad.
According to thecitizen.co.tz, a recent report by the Ministry of Finance, presented to parliament in September 2023, highlights how generous incentives to foreign investors, including tax exemptions and non-financial perks, are compounding the country’s revenue challenges.
