Joseph Isangura
Tanzania has assured foreign ambassadors of its commitment to political stability and an improved investment and tax environment, emphasizing ongoing government efforts to enhance these areas.
The announcement was made by Minister of Foreign Affairs and East African Cooperation, Mahmoud Thabit Kombo, on November 13, 2024, as the country prepares for local government elections set for November 27. This election has sparked concerns from opposition parties, who allege that some of their candidates have been disqualified from running.
On the subject of tax policy, foreign ambassadors representing the United Kingdom, United States, Netherlands, Ireland, France, Belgium, Canada, South Korea, Sweden, and Germany had previously raised concerns in a letter dated June 26. They expressed frustrations over frequent audits of foreign investors by the Tanzania Revenue Authority (TRA), suggesting that these reviews impact investor confidence. In response, President Samia Suluhu Hassan established a Presidential Tax Commission to assess and provide guidance on the nation’s tax framework.
Minister Kombo assured the diplomatic community that the Tanzanian government is prioritizing measures to balance investor needs while maintaining the integrity of tax compliance.
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The government’s message comes as part of a broader agenda to create a favorable and predictable environment for foreign investors and to strengthen Tanzania’s role in the regional and global economy.
Kombo acknowledged the concerns from international stakeholders, affirming that the government is keen to improve the business climate and address any issues raised by diplomatic partners. The government’s actions are expected to bolster investor trust and encourage more foreign investments as Tanzania works to achieve sustained economic growth.
