Bloomberg: Tanzanian Leader's War for Taxes Puts Economy in Firing Line

[salthanks]

Vimemkaanga na Mafuta gani?

Mafuta ya cannabis

 

[minyoo]

Nyie endeleeni kujidanganya hivyo hivyo huku uchumi ukiteketea mtakaposituka mtakuta Magufuli kabakiza miezi miwili awaachie lundo la madeni na migogoro ya kimataifa yeye anaenda zake Chato kupumzika, wake up dude.

Mshauri mkuu wa magufuli ni Daud Bashite ( Maliyamungu) unategemea amshauni nini zaidi ya kumshauri wachukue mikopo waje kuzitafuna pesa kupitia kwa Doto pale Hazina.

 

[Zeni2017]

Alex Cobham, chief executive officer of the London-based Tax Justice Network, said many Africans countries’ natural resources had been systematically looted and greater transparency was needed, including country-by-country reporting by multinationals for each project, to ensure nations secured fair deals.

“What’s happening in Tanzania is the natural result of a process that has been going on for decades,” Cobham said by phone. “It’s unfortunate the steps taken by the Tanzanian government have been seen to be unlawful and a deterrent to investor confidence, but their actions are understandable given how badly some of the companies have behaved.”

Hiyo ripoti na yenyewe imejikaanga. Mimi ripoti yote nimeona hapa tu ambapo wanakubali madini ya Africa yanaibiwa miaka nenda miaka rudi.
Sasa tufanye nini tuendelee kuibiwa kwa kuogopa wakazaji wataondoka?

 

[minyoo]

Alex Cobham, chief executive officer of the London-based Tax Justice Network, said many Africans countries’ natural resources had been systematically looted and greater transparency was needed, including country-by-country reporting by multinationals for each project, to ensure nations secured fair deals.

“What’s happening in Tanzania is the natural result of a process that has been going on for decades,” Cobham said by phone. “It’s unfortunate the steps taken by the Tanzanian government have been seen to be unlawful and a deterrent to investor confidence, but their actions are understandable given how badly some of the companies have behaved.”

Hiyo ripoti na yenyewe imejikaanga. Mimi ripoti yote nimeona hapa tu ambapo wanakubali madini ya Africa yanaibiwa miaka nenda miaka rudi.
Sasa tufanye nini tuendelee kuibiwa kwa kuogopa wakazaji wataondoka?

Wizi upo pale pale kwani Mtukufu sasa anawaleta Wachina kuja kuchimba madini na Wachina ndiyo Hatari kuliko wazungu lakini kwa kuwa ana Dili zake humo hatasikia la mtu mpaka avune mapande ya dhahabu kwanza

 

[Super Handsome]

Kwa sasa nchi inategemea makusanyo ya faini barabarani hivyo hatuna haja na wawekezaji wenu. Hapa kazi tu

Lol! PRA ianzishwe au ibadilishwe jina na Kamanda ziro awe kamishna mkuu!

 

[kivyako]

Hii vita ya kiuchumi tunapigana na nani hasa?

Tunapigana wenyewe

 

[Lutsala]

Vyombo Vya kimataifa ndio nini

 

[minyoo]

Nchi hii imechafuka sana baada ya Mtukufu malaika wa chato kuruhusu Maliyamungu Bashite awe ndiyo mshauri wake mkuu wakati anajua hana vyeti na yy PhD yake ni feki kwa mujibu wa ben Sanane , huo muunganiko ndiyo umezaa hii kero kwa Taifa na sasa Maliyamungu kaanza kuwaua Wapinzani ni hatari zaidi yafaa The Hague iwamulike mapema kabla hawajaleta majonzi zaidi:

 

[Lobapula]

Bloomberg - Africa Edition hawana hiyo habar lete link hapa

Duh....

Report ya Vyombo vya habari dhidi ya Magufuli na uchumi wa Tanzania ni full hatred, and am worried if Investors will ever dare to invest into our land, based on those narration stories.

========

Tanzanian President John Magufuli’s deepening dispute with companies he accuses of being tax cheats is rattling investors and dimming the allure of one of Africa’s fastest-growing economies.

Since taking office in late 2015, Magufuli has been on a drive to increase revenue from natural resources to help fund his industrialization plans. His administration has passed laws enabling it to renegotiate contracts and ordered foreign mining firms to sell stakes on the local stock exchange to increase transparency.

The authorities have hit Acacia Mining Plc with a $190 billion tax bill, curbed its exports and detained a senior employee, and seized gems and questioned staff from Petra Diamonds Ltd., alleging it hadn’t paid its dues.

“In his bid to do some good things like trying to reduce the level of corruption, President Magufuli has often taken steps that have actually gone outside of the formal rules,” Nic Cheeseman, professor of democracy at the University of Birmingham in the U.K., said by phone. “Even people I think who have sympathy for his ends are starting to say that the means of achieving them might do more harm than good. It is a very worrying situation.”

Acacia, whose tax bill and related penalties equate to 180 times its revenue last year, and Petra have denied wrongdoing. Acacia has shuttered some operations in Tanzania until its dispute is resolved. With Magufuli showing no signs of backing down, the closures may have an effect on tax income, deter other investment and stifle an economy that the International Monetary Fund expects to expand an average of 6.7 percent a year until 2021.

‘Economic War’

Magufuli, who was nicknamed the bulldozer because of the zeal he showed in his previous post of works minister, campaigned for the presidency on an anti-corruption ticket. His approach was welcomed by Tanzanians weary of years of graft in the public sector. He says Tanzania is in the midst of an “economic war” and if foreign investors want to leave, locals will take over their mines.

“They should not threaten us,” he said in a televised address on Sept. 7. “They are the ones that should be scared.”

Financial markets have taken fright, with the Tanzanian All Share Index slumping 10.1 percent since the Acacia dispute erupted on March 3 and the company’s shares nosediving 62 percent in London, where it’s based. Petra’s shares fell in London on Monday after its annual earnings missed analysts’ estimates, bringing their decline to 6.9 percent since it announced the temporary closure of its Tanzanian operations on Sept. 11. It said Monday it has now resumed production at its Williamson mine.

Prospects ‘Impeded’

“Exports could be hit,” said Mark Bohlund, Africa economist with Bloomberg Intelligence in London. “A failure to entice foreign direct investment with a favorable regulatory framework and consistent government policy will impede Tanzania’s longer-term growth prospects.”

Mining accounted for about 5 percent of Tanzania’s $47-billion economy last year, a contribution the government intends to double by 2025. While efforts to derive more benefit from the country’s mineral riches should be welcomed, the government’s approach is flawed, according to Racheal Chagonja, a coordinator at HakiRasilimali, an association of civil-society groups that focuses on Tanzanian resource extraction.

“Are we asking what happens if an Acacia or a Petra leaves?” she said. “The way we are carrying on threatens the sustainability of Tanzania. We need investors and they need us.”

Zitto Kabwe, who sat on a panel established by former President Jakaya Kikwete in 2007 to review the mining industry, anticipates disinvestment and warns the government’s approach could set the country back decades.

‘Bullying, Unprofessional’

“It is too bullying, unprofessional,” said Kabwe, who’s an opposition lawmaker. “There are genuine claims about Tanzanians not benefiting from the mining sector, but we need the investments. What the government is doing is turning away investors.”

Finance Minister Philip Mpango has called for the nationalization of the diamonds that were seized from Petra this month and alleged to be undervalued.

“Tanzanians are being robbed in broad daylight,” he said in an address on state television. “We cannot continue in this way.” Calls to Mpango’s assistant didn’t connect when Bloomberg sought comment from the minister.

Alex Cobham, chief executive officer of the London-based Tax Justice Network, said many Africans countries’ natural resources had been systematically looted and greater transparency was needed, including country-by-country reporting by multinationals for each project, to ensure nations secured fair deals.

“What’s happening in Tanzania is the natural result of a process that has been going on for decades,” Cobham said by phone. “It’s unfortunate the steps taken by the Tanzanian government have been seen to be unlawful and a deterrent to investor confidence, but their actions are understandable given how badly some of the companies have behaved.”

Acacia is 64 percent owned by Barrick Gold Corp. Security guards at the company’s North Mara mine, near Tanzania’s border with Kenya, were in 2010 accused of shooting and killing people scavenging for gold-laced rocks to sell for cash. Barrick said at the time it frequently faced groups of intruders, often armed, who illegally trespassed on the mine and some thefts and vandalism were linked to organized crime.

Tanzania’s recent actions may not be fully justified, Cobham said. “I think most people would say they have crossed the line in a number of ways.”

Source: Bloomberg

 

[mwl]

hawa ndio friends of chadema kwa sasa,ila ni aheri hayo madini yabaki hapo ardhini kuliko kuyagawa bure kwa hawa wazungu majizi

Kiherehere chenu, Mwl Nyerere aliwaambia nyinyi nyinyiemu mkamuona hana maana, kufumba na kufumbua London to Akhera, mikataba mkaisaini leo mnazoa kile mlichokunya. Kesho mtakunya tena palepale.

 

[salthanks]

Waondoke watuachie nchi yetu pomoja na wapiga debe wao (vibaraka)

Nchi itatushinda

 

[kilambimkwidu]

Mmmh, maneno mazito haya...ivi kumbe wanafuatilia kiasi hichi...

 

[Gerald Robert]

Vimemkaanga na Mafuta gani?

petrol

 

[Sandinistas]

Kwani anachokifanya Maghufuli ni kibaya basi kwa maslahi ya Taifa? Approach yake ndo mbaya. And in the process, he ends up shooting his own foot.

Kwasababu mtu kama Lissu, alikuwa ni mtu wa kufanya naye kazi na si kumtenga kama adui. Hapo ameharibu. Maana bado siyo Lissu wala chama chake waliosaini hiyo mikataba ya kinyonyaji.

Rais akibadili approach atapata support kubwa tu nchini

Siyo rahisi kubadili approach kwa sababu hakuna chombo cha kuwezesha hilo kutokea. Magufuli alipiga kampeni ya uchaguzi kama mgombea binafsi na kwa sababu hiyo ccm haina tena ubavu wala uthubutu wa kuongoza serikali. Sasa, ccm ndiyo inaongozwa na serikali! Badala ya kuongoza serikali na kuhakikisha inadumisha utamaduni wa kisiasa wa nchi hii ccm imebaki tu kutoa matamko ya kuiunga serikali mkono!

 

[baruti 1]

vyombo vya habari uchwara. wanataka tubakike na mashimo yaendelee kkututawala na ushoga wao

 

[minyoo]

Nchi itatushinda

imeshamshinda ndiyo maana Bashite Maliyamungu kaamua kuwaua Wapinzani na kwenda kuchukua mikopo mikubwa kimya kimya dola milion 500 kwa riba ya kurejesha doli milion 900 huo ni msala kwa watanzania.

 

[B.G TANTAWI]

Pumbavu zenu, hata the new york times lingeandika, hatutishwi, potelea mbali, bado nipo bega kwa bega na Mh. Rais, hata kama tutashindwa vita hii ya kiuchumi sawa tu, cha msingi moyo wangu upo pamoja na nchi yangu Tanzania.

 

[Erythrocyte]

Nakulilia Tanzania .

 

[minyoo]

vyombo vya habari uchwara. wanataka tubakike na mashimo yaendelee kkututawala na ushoga wao

Wachina wanakuja kuchukua huko utabakiwa na makorongo zaidi ya mashimo umeruka mkojo unaenda kukanyaga kinyesi Hatari.

 

[Elitwege]

Nyumbu na mawakala wa mafisadi na wazungu njooni mshangilie sasa