Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development
This seventh economic update goes to the heart of one of the main challenges faced by Tanzania: how can the country finance its development? This is a fundamental question when aid is coming down as a proportion of a growing GDP, and as access to f...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24695362/tanzania-economic-update-tanzanians-pay-taxes-unavoidable-need-finance-economic-development http://hdl.handle.net/10986/22331 |
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okr-10986-22331 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
TAX INCENTIVES LIVING STANDARDS TARIFFS CONTINGENT LIABILITIES MONETARY POLICY DEFICIT REGULATORY FRAMEWORK GOVERNMENT EXPENDITURES ACCOUNTING CHECKS LOCAL ECONOMY REAL INTEREST RATES MORAL OBLIGATION STOCK VALUATION INTEREST MONEY SUPPLY INTEREST RATE PROPERTY RIGHTS OPTION EXCHANGE GOVERNMENT REVENUES LOCAL GOVERNMENTS ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS RESERVE REQUIREMENTS LIQUIDITY DEBT MANAGEMENT DEVELOPING COUNTRIES TAX COLLECTION REAL INTEREST EXPORTERS REVENUES FISCAL POLICY BONDS CAPACITY BUILDING ISSUANCE OF BONDS DEBT SERVICING COSTS TAX PUBLIC BORROWING INCOME TAX DEBT ISSUANCE RESERVE INTERNATIONAL TRANSACTIONS INFLATION PENSION DEVELOPING COUNTRY INSTRUMENTS DEBT LEVEL CREDIBILITY BUDGET FISCAL CAPACITY CENTRAL BANK CONVERSION FOREIGN MARKETS TRADE BALANCE OIL PRICES LEVEL OF RISK AGRICULTURAL COMMODITIES CURRENCY TELECOMMUNICATIONS CAPITAL GAINS PUBLIC FUNDS CORPORATE TAX RATES PRICE VOLATILITY ELECTRONIC PAYMENT SYSTEMS CONTRACTS EXCHANGE RATES TAX EXEMPTIONS RECURRENT EXPENDITURES INTEREST RATES MONETARY FUND MARKETS DEBT PRIVATE INVESTMENT LOCAL GOVERNMENT RETURN FINANCIAL FLOWS INFLATION RATE PUBLIC FINANCE INCOME LEVELS LOANS DIRECT INVESTMENT RESERVES PRIVATE CAPITAL DEBT SERVICE GROSS DOMESTIC PRODUCT PENSION FUNDS CASH TRANSFERS DOMESTIC BONDS COMMODITY PRICE FINANCE BANK POLICY PUBLIC INVESTMENT TAXES FISCAL DEFICIT INVESTMENT DECISIONS EXPENDITURE GOVERNMENT BUDGETS TRANSACTIONS INTERNATIONAL STANDARDS POTENTIAL INVESTORS EQUITY INCOME TAXES TRANSACTION INVESTORS HUMAN CAPITAL GOOD TAX RATE GOVERNMENT BUDGET DEBT-SERVICE TRANSPARENCY COMPLIANCE COSTS TURNOVER FUTURE FOREIGN DIRECT INVESTMENT NATIONAL DEBT BUDGETS TAX REGIMES GOVERNMENT EXPENDITURE INVESTMENT PROJECTS CONTRACT DISBURSEMENTS EXPENDITURES PROPERTY ISSUANCE PROPERTIES CURRENT ACCOUNT DEFICIT TAX RATES SHARES ACCESS TO LOANS REAL EXCHANGE RATE TRANSACTION COSTS MARKET LOCAL CURRENCY TRADE LIBERALIZATION MONETARY POLICIES PUBLIC DEBT EXPORTER TREASURY LEVY CURRENCIES ECONOMIC DEVELOPMENT TRADE SECTORS INTERESTS GOODS MARKET SHARE STOCKS INVESTMENT COMMERCIAL BANKS HUMAN RESOURCES SHARE TAX SYSTEM POVERTY TARIFF PRIVATE INVESTORS DECENTRALIZATION REVENUE MOBILE PHONES DEVELOPMENT FINANCE TAX POLICY LEVIES JUSTICE SYSTEM INVESTMENTS TAX TREATMENT LENDING CREDIT GROWTH PENSION FUND LEVEL OF DEBT PUBLIC STOCK EXCHANGE RATE DEBT SERVICING PUBLIC SPENDING PAYMENT SYSTEMS LIABILITIES COMMODITY PRICES ARREARS INTERNATIONAL MARKETS SMALL BUSINESSES GUARANTEE DEVELOPMENT BANK INCOME LEVEL REAL PROPERTY TAX OBLIGATIONS |
| spellingShingle |
TAX INCENTIVES LIVING STANDARDS TARIFFS CONTINGENT LIABILITIES MONETARY POLICY DEFICIT REGULATORY FRAMEWORK GOVERNMENT EXPENDITURES ACCOUNTING CHECKS LOCAL ECONOMY REAL INTEREST RATES MORAL OBLIGATION STOCK VALUATION INTEREST MONEY SUPPLY INTEREST RATE PROPERTY RIGHTS OPTION EXCHANGE GOVERNMENT REVENUES LOCAL GOVERNMENTS ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS RESERVE REQUIREMENTS LIQUIDITY DEBT MANAGEMENT DEVELOPING COUNTRIES TAX COLLECTION REAL INTEREST EXPORTERS REVENUES FISCAL POLICY BONDS CAPACITY BUILDING ISSUANCE OF BONDS DEBT SERVICING COSTS TAX PUBLIC BORROWING INCOME TAX DEBT ISSUANCE RESERVE INTERNATIONAL TRANSACTIONS INFLATION PENSION DEVELOPING COUNTRY INSTRUMENTS DEBT LEVEL CREDIBILITY BUDGET FISCAL CAPACITY CENTRAL BANK CONVERSION FOREIGN MARKETS TRADE BALANCE OIL PRICES LEVEL OF RISK AGRICULTURAL COMMODITIES CURRENCY TELECOMMUNICATIONS CAPITAL GAINS PUBLIC FUNDS CORPORATE TAX RATES PRICE VOLATILITY ELECTRONIC PAYMENT SYSTEMS CONTRACTS EXCHANGE RATES TAX EXEMPTIONS RECURRENT EXPENDITURES INTEREST RATES MONETARY FUND MARKETS DEBT PRIVATE INVESTMENT LOCAL GOVERNMENT RETURN FINANCIAL FLOWS INFLATION RATE PUBLIC FINANCE INCOME LEVELS LOANS DIRECT INVESTMENT RESERVES PRIVATE CAPITAL DEBT SERVICE GROSS DOMESTIC PRODUCT PENSION FUNDS CASH TRANSFERS DOMESTIC BONDS COMMODITY PRICE FINANCE BANK POLICY PUBLIC INVESTMENT TAXES FISCAL DEFICIT INVESTMENT DECISIONS EXPENDITURE GOVERNMENT BUDGETS TRANSACTIONS INTERNATIONAL STANDARDS POTENTIAL INVESTORS EQUITY INCOME TAXES TRANSACTION INVESTORS HUMAN CAPITAL GOOD TAX RATE GOVERNMENT BUDGET DEBT-SERVICE TRANSPARENCY COMPLIANCE COSTS TURNOVER FUTURE FOREIGN DIRECT INVESTMENT NATIONAL DEBT BUDGETS TAX REGIMES GOVERNMENT EXPENDITURE INVESTMENT PROJECTS CONTRACT DISBURSEMENTS EXPENDITURES PROPERTY ISSUANCE PROPERTIES CURRENT ACCOUNT DEFICIT TAX RATES SHARES ACCESS TO LOANS REAL EXCHANGE RATE TRANSACTION COSTS MARKET LOCAL CURRENCY TRADE LIBERALIZATION MONETARY POLICIES PUBLIC DEBT EXPORTER TREASURY LEVY CURRENCIES ECONOMIC DEVELOPMENT TRADE SECTORS INTERESTS GOODS MARKET SHARE STOCKS INVESTMENT COMMERCIAL BANKS HUMAN RESOURCES SHARE TAX SYSTEM POVERTY TARIFF PRIVATE INVESTORS DECENTRALIZATION REVENUE MOBILE PHONES DEVELOPMENT FINANCE TAX POLICY LEVIES JUSTICE SYSTEM INVESTMENTS TAX TREATMENT LENDING CREDIT GROWTH PENSION FUND LEVEL OF DEBT PUBLIC STOCK EXCHANGE RATE DEBT SERVICING PUBLIC SPENDING PAYMENT SYSTEMS LIABILITIES COMMODITY PRICES ARREARS INTERNATIONAL MARKETS SMALL BUSINESSES GUARANTEE DEVELOPMENT BANK INCOME LEVEL REAL PROPERTY TAX OBLIGATIONS World Bank Group Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development |
| geographic_facet |
Africa Tanzania |
| description |
This seventh economic update goes to the
heart of one of the main challenges faced by Tanzania: how
can the country finance its development? This is a
fundamental question when aid is coming down as a proportion
of a growing GDP, and as access to financial markets remains
limited. Oneoption would be to rely more on the private
sector to deliver education, health, roads, ports and
electricity. This is possible as demonstrated by many such
experiences around the world, and therefore this approach
needs to be one important part of the solution to finance
development. The argument presented in this economic update
is that higher tax revenues will come only if a
comprehensive approach is adopted. The tax system has to be
affordable, fair, simple, and transparent. The government
also has to be accountable for the money it is receiving. It
is onlywhen these basic conditions are met that tax
compliance will increase. Because a strong social contract
between the State and its citizens is not yet sufficiently
in place in Tanzania, a number of suggestions are proposed
in the update, with the objective of stimulating debate on
possibleapproaches to increase tax revenue. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development |
| title_short |
Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development |
| title_full |
Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development |
| title_fullStr |
Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development |
| title_full_unstemmed |
Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development |
| title_sort |
tanzania economic update, july 2015 : why should tanzanians pay taxes? the unavoidable need to finance economic development |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/07/24695362/tanzania-economic-update-tanzanians-pay-taxes-unavoidable-need-finance-economic-development http://hdl.handle.net/10986/22331 |
| _version_ |
1764450813027024896 |
| spelling |
okr-10986-223312021-04-23T14:04:08Z Tanzania Economic Update, July 2015 : Why Should Tanzanians Pay Taxes? The Unavoidable Need to Finance Economic Development World Bank Group TAX INCENTIVES LIVING STANDARDS TARIFFS CONTINGENT LIABILITIES MONETARY POLICY DEFICIT REGULATORY FRAMEWORK GOVERNMENT EXPENDITURES ACCOUNTING CHECKS LOCAL ECONOMY REAL INTEREST RATES MORAL OBLIGATION STOCK VALUATION INTEREST MONEY SUPPLY INTEREST RATE PROPERTY RIGHTS OPTION EXCHANGE GOVERNMENT REVENUES LOCAL GOVERNMENTS ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS RESERVE REQUIREMENTS LIQUIDITY DEBT MANAGEMENT DEVELOPING COUNTRIES TAX COLLECTION REAL INTEREST EXPORTERS REVENUES FISCAL POLICY BONDS CAPACITY BUILDING ISSUANCE OF BONDS DEBT SERVICING COSTS TAX PUBLIC BORROWING INCOME TAX DEBT ISSUANCE RESERVE INTERNATIONAL TRANSACTIONS INFLATION PENSION DEVELOPING COUNTRY INSTRUMENTS DEBT LEVEL CREDIBILITY BUDGET FISCAL CAPACITY CENTRAL BANK CONVERSION FOREIGN MARKETS TRADE BALANCE OIL PRICES LEVEL OF RISK AGRICULTURAL COMMODITIES CURRENCY TELECOMMUNICATIONS CAPITAL GAINS PUBLIC FUNDS CORPORATE TAX RATES PRICE VOLATILITY ELECTRONIC PAYMENT SYSTEMS CONTRACTS EXCHANGE RATES TAX EXEMPTIONS RECURRENT EXPENDITURES INTEREST RATES MONETARY FUND MARKETS DEBT PRIVATE INVESTMENT LOCAL GOVERNMENT RETURN FINANCIAL FLOWS INFLATION RATE PUBLIC FINANCE INCOME LEVELS LOANS DIRECT INVESTMENT RESERVES PRIVATE CAPITAL DEBT SERVICE GROSS DOMESTIC PRODUCT PENSION FUNDS CASH TRANSFERS DOMESTIC BONDS COMMODITY PRICE FINANCE BANK POLICY PUBLIC INVESTMENT TAXES FISCAL DEFICIT INVESTMENT DECISIONS EXPENDITURE GOVERNMENT BUDGETS TRANSACTIONS INTERNATIONAL STANDARDS POTENTIAL INVESTORS EQUITY INCOME TAXES TRANSACTION INVESTORS HUMAN CAPITAL GOOD TAX RATE GOVERNMENT BUDGET DEBT-SERVICE TRANSPARENCY COMPLIANCE COSTS TURNOVER FUTURE FOREIGN DIRECT INVESTMENT NATIONAL DEBT BUDGETS TAX REGIMES GOVERNMENT EXPENDITURE INVESTMENT PROJECTS CONTRACT DISBURSEMENTS EXPENDITURES PROPERTY ISSUANCE PROPERTIES CURRENT ACCOUNT DEFICIT TAX RATES SHARES ACCESS TO LOANS REAL EXCHANGE RATE TRANSACTION COSTS MARKET LOCAL CURRENCY TRADE LIBERALIZATION MONETARY POLICIES PUBLIC DEBT EXPORTER TREASURY LEVY CURRENCIES ECONOMIC DEVELOPMENT TRADE SECTORS INTERESTS GOODS MARKET SHARE STOCKS INVESTMENT COMMERCIAL BANKS HUMAN RESOURCES SHARE TAX SYSTEM POVERTY TARIFF PRIVATE INVESTORS DECENTRALIZATION REVENUE MOBILE PHONES DEVELOPMENT FINANCE TAX POLICY LEVIES JUSTICE SYSTEM INVESTMENTS TAX TREATMENT LENDING CREDIT GROWTH PENSION FUND LEVEL OF DEBT PUBLIC STOCK EXCHANGE RATE DEBT SERVICING PUBLIC SPENDING PAYMENT SYSTEMS LIABILITIES COMMODITY PRICES ARREARS INTERNATIONAL MARKETS SMALL BUSINESSES GUARANTEE DEVELOPMENT BANK INCOME LEVEL REAL PROPERTY TAX OBLIGATIONS This seventh economic update goes to the heart of one of the main challenges faced by Tanzania: how can the country finance its development? This is a fundamental question when aid is coming down as a proportion of a growing GDP, and as access to financial markets remains limited. Oneoption would be to rely more on the private sector to deliver education, health, roads, ports and electricity. This is possible as demonstrated by many such experiences around the world, and therefore this approach needs to be one important part of the solution to finance development. The argument presented in this economic update is that higher tax revenues will come only if a comprehensive approach is adopted. The tax system has to be affordable, fair, simple, and transparent. The government also has to be accountable for the money it is receiving. It is onlywhen these basic conditions are met that tax compliance will increase. Because a strong social contract between the State and its citizens is not yet sufficiently in place in Tanzania, a number of suggestions are proposed in the update, with the objective of stimulating debate on possibleapproaches to increase tax revenue. 2015-07-28T22:29:40Z 2015-07-28T22:29:40Z 2015-07 Report http://documents.worldbank.org/curated/en/2015/07/24695362/tanzania-economic-update-tanzanians-pay-taxes-unavoidable-need-finance-economic-development http://hdl.handle.net/10986/22331 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Africa Tanzania |