As anticipation builds for the government main budget for 2024/25 slated to be tabled in the National Assembly, the horticultural champion has presented the wish list to spur the multi-million-dollars industry.
The Tanzania Horticultural Association (TAHA) has put forth crucial fiscal reform proposals, aimed to boost the industry for it to grow by leaps and bounds. Top on the wish list, TAHA Chief Development Manager, Mr Anthony Chamanga says, are unfavorable tax measures on seed research and delays in VAT refunds.
Mr Chamanga said that one of the major barriers is the taxation of services tied to seed research and breeding by multinational companies. "The imposition of VAT on these services has not only discouraged investment, but also impeded the development of high-quality, resilient seeds" he explained.
TAHA said that Tanzania could attract more multinational seed companies, fostering innovation and boosting productivity within the horticultural industry by reducing the tax burden.
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