Saturday, 30 January 2016

Forex dealers ordered to issue receipts by EFDs.


In a move to ensure more revenue is collected from forex bureaux operating in the country, Tanzania Revenue Authority (TRA) has ordered operators to issue receipts to customers through electronic machines (EFDs).
 
TRA Principal Taxpayer Educational Officer Hamisi Lupenja made the remarks at workshop in Dar es Salaam yesterday organized by the Authority.
 
The workshop aimed at equipping forex shop  operators with EFD operating skills and the importance of issuing receipts to customers.
 
This came after the Authority noticed that a lot of taxes were being lost through such services, which could help to bridge the gap in the country’s financial deficit.
 
He said the tax body had already launched an investigation into operators avoiding to pay taxes to the government by denying issuing receipts to customers.
 
TRA Manager for Taxpayer Education Services Diana Masala  said the Authority wanted forex shop operators to know their responsibility to provide receipts to customers.
 
For his part, Assistant Manager from the Bank of Tanzania Omary Kacheuke said that on December 7, last year, BoT had organized a seminar involving TRA and the bureaux operators to discuss various issues related to their services.
 
"During the meeting there were complaints about the disruption of networks and constant break down of EFDs. So, we are very grateful that TRA responded to the complaints and decided to organize this seminar to discuss these problems,” he said. 
 
For his part, Coast Bureau de Change Executive Director Abdulbakari Abdalah said they were not opposed to the use of EFD machines as such.
 
 He said the machines developed a lot of faults during their use which called for their frequent servicing.
SOURCE: THE GUARDIAN

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