The Tanzanian government lowers taxes by 20 percent to attract investment

PRESIDENT Samia Suluhu Hassan has said that the government has reduced corporate tax from 30 percent to 10 percent for the first five years to stimulate more investment in the industrial sector

Speaking at the launch of the Saturn Corporation Limited lorry assembly factory located in Kigamboni District, Dar es Salaam Region today May 9, 2024, President Samia has promised that the government will continue to build a modern, connected, integrated and competitive economy in the industrial base, economic services and enabling infrastructure.

He said that the industrial sector increases production and provides employment to the people, which is important in promoting an integrated economy and helping and assisting in the fight against poverty.

On the other hand, President Samia has said that the factory will provide about 250 direct jobs and 1800 indirect jobs to increase the circulation of money, government income and feed Technology.