Taxpayers in the country have been required to pay their Taxes on time before the end of the Business year ending December 31, 2024 to avoid tax penalties charged due to the delay of the relevant tax.
Giving clarification on tax issues, the Chief Tax Officer of the Tanzania Revenue Authority (TRA), Mr. Hamad Iddi Mterry has given an opinion to the citizens who are estimated to pay the fourth installment of Tax before December 31, 2024.
Mr. Mterry has said that every month usually has its tax collection goals while mentioning December as the month of large tax collections due to the fact that it is the last month of the business year.
He has mentioned some of the reasons for the large estimate of tax collections for the month of December, which for this year is approximately Shs. 3.46 trillion per month.
He said that it is a month with many holidays that increase the purchase of goods and services and it is also a month that falls at the end of the year.
