Tanzania: Minerals, VAT, and Smuggling

Daily News

In a recent National Daily News article speaking of budgets and regulations, it is suggested that the Tanzanian government’s commitment to the minerals sector is focused on curbing smuggling and enhancing value addition.

In this article it was also noted that there are currently plans to exempt Value Added Tax (VAT) on the supply of precious metals, gemstones and other precious stones at buying centres, mineral markets, and gem houses.

Expansion is also part of the plan, with the government scheduled to disburse funds for establishing additional mineral centres. The government will complete construction of centres of excellence for small scale miners in Songea, Mpanda and Chunya districts. 

On the smuggling of minerals, it was said that the assembly had managed to seal several loopholes to ensure that Tanzanian gemstones are not smuggled outside the country. The measure is intended to “stimulate growth of the transportation of minerals by the small mining sector in the country, as well as attracting more investment, promoting employment and increasing government’s revenue.”

Tap here to read the original feature in the Daily News, the National Newspaper, Tanzania.

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