ARUSHA, Tanzania, June 8 (Xinhua) -- Tanzanian Finance and Planning Minister Phillip Mpango on Thursday unveiled a plan to introduce 1 percent clearing fee on the value of mineral exports in the next fiscal year, in an effort to boost revenues.
Mpango was speaking in Tanzania's capital Dodoma when tabling budget estimates for the 2017/2018 fiscal year in the National Assembly.
He said that the move is part of government measures to get a bigger share of revenues from the country's natural resources.
The minister said the government will not allow the direct export of minerals from mines.
In his budget speech in the National Assembly, Mpango divulged that the east African nation will set up clearing houses at international airports, mines and exit border points where a 1 percent clearing fee will be imposed on the value of mineral exports.
According to Mpango, the government would announce more details on the new mineral clearing fee at a later date.
He, however, said that the government has issued tax exemption on capital goods in order to reduce procurement and importation costs on machines and plants used in production.
"The exemption will apply to edible oil, textile, leather and pharmaceutical (including veterinary) industries," Mpango said, adding that the government also scrapped taxes on ancillary transport services in relation to goods in transit when they are in the country.
