EFFORTS to improve the business environment will receive a massive boost as the government plans to take on board recommendations from a blueprint for regulatory reforms to improve business environment in Tanzania from the 2018/19 financial year.
Moving budget proposals for the 2018/19 year in Parliament last Thursday, the Minister for Finance and Planning, Dr Phillip Mpango said the recommendations are aimed at harmonising and simplifying procedures for payment of taxes, fees and levies.
The Finance Minister said the blueprint also recommends to shorten time and bureaucratic procedures in registration of businesses and companies.
"Honourable Speaker, conducive environment is the basis of attracting business and investment including improvement of supportive infrastructure, tax incentives, policy consistency and predictability, land accessibility and well-structured legal and regulatory frameworks," he said.
Tanzania is ranked 137 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings deteriorating from 132 in 2016.
The Ease of doing business index ranks countries against each other based on how the regulatory environment is conducive to business operations.
The minister said analysis undertaken by the government in 2017/18 revealed there were conflicting laws, regulations and procedures administered by different authorities.
The analysis also revealed there were high start-up and operating business costs due to multiplicity of taxes, fees and levies accompanied by complex and unproductive bureaucratic procedures which fuel corruption, he said.
It also revealed overlapping of responsibilities and multiplicity of regulatory authorities in approving, licensing, granting permits and certificates in business and investments, he said