Summary
* Singapore has made significant progress in digital systems for tax administration
* Tanzania is keen to learn from its experience to enhance revenue mobilization through the Tanzania Revenue Authority.
DAR ES SALAAM: THE government of Tanzania is looking forward to expand bilateral cooperation with Singapore in key economic sectors.
The sectors include trade, investment, tourism, artificial intelligence (AI), and digital revenue systems.
This position has been unveiled by the Tanzanian Minister of Finance, Mr. Khamis Mussa Omar.
The Minister revealed the Tanzania’s crucial aspiration towards improving the country’s economic facet in his remarks in Dar es Salaam during special organised talks with Singapore’s Ambassador to Tanzania Douglas Foo.
Mr. Omar said the two sides discussed strengthening bilateral cooperation in economic, social and diplomatic fields, with a particular focus on fast-tracking agreements on investment protection and the avoidance of double taxation.
He expressed the importance of expanding economic ties and invited Singaporean investors to explore opportunities in Tanzania, highlighting the country’s strategic position as a gateway to regional markets for its landlocked neighbors.
He added that Singapore has made significant progress in digital systems for tax administration, adding that Tanzania is keen to learn from its experience to enhance revenue mobilization through the Tanzania Revenue Authority.
For his part, Foo expressed commitment that Singapore will work to encourage companies and institutions to chip in the country (Tanzania) and invest, the development which will help Tanzania to acquire new technologies in trade and investment.
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