Summary
- Minister of Finance and Planning, Dr Mwigulu Nchemba said that the Government had reduced the scope of charges, stimulating the use of electronic transactions to reduce cash, simplifying charges and preventing double taxation on the same income.
Dodoma. Government has today September 20, announce the abolition of the recently introduced levies on electronic transactions which took effect on August 15 following a public outcry.
The decision was announced by the Minister of Finance and Planning, Dr Mwigulu Nchemba in Parliament after the question and answer session.
He said that the Government had reduced the scope of charges, stimulating the use of electronic transactions to reduce cash, simplifying charges and preventing double taxation on the same income.
“The amendments made are to cancel the levies for transferring money from banks to mobile networks (both sides) and to cancel levies for transferring money within one bank,” he said.
According to Mwigulu another amendment that they have made is to cancel the fee for transferring money from one bank to another bank.
He has also said that they have waived the transaction fee on withdrawal of cash through bank agents and ATMs for transactions with a value not exceeding Sh30,000.
In addition, he said that the Government has decided to abolish withholding tax on rental properties which were to be collected by tenants and instead the responsibility has been returned to the Tanzania Revenue Authority (TRA) in a manner that will be specified in the regulations.
“I would like to emphasize that the withholding tax is not for the tenant but should be paid by the landlord who receives income from investment or rental business,” he said.
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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
President Samia Suluhu Hassan, has handed over a cheque of 354m/- from the National Bank of Commerce (NBC) as compensation to tobacco farmers, who were affected by hailstorms during the previous farming season in various regions across the country.
Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).
Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.
While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.
“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”
Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.
Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.
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“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”
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On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.
He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:
At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.
There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.
Source: allafrica.com
