8 June 2017

Tanzania to Introduce Clearing Fee for Mineral Exports

Photo: Daily News
Finance and Planning Minister, Dr Philip Mpango (file photo).

Tanzania plans to introduce a 1 per cent clearing fee on the value of mineral exports in 2017/18 (July-June), its finance minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the country's natural resources.

"The government will not allow the direct export of minerals from mines," finance and planning minister Philip Mpango said in his budget speech in parliament.

"The government will set up clearing houses at international airports, mines and exit border points where a 1 per cent clearing fee will be imposed on the value of mineral exports."

Dr Mpango said the government would announce more details on the new mineral clearing fee at a later date.

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