Tanzania signs major tax deal to attract more business
Tanzania has signed a tax agreement with the Czech Republic to avoid double taxation, a move aimed at attracting more foreign investment and boosting trade between the two countries.
Finance Minister Dr Mwigulu Nchemba announced the deal on May 14 at a signing ceremony in the capital, Dar es Salaam.
According to him, the agreement would help remove tax barriers, protect investor profits, and improve the country’s business climate.
The agreement comes as Tanzania continues its push to become one of Africa’s leading investment destinations.
Trade between Tanzania and the Czech Republic has grown in recent years, especially in services, machinery, and technology. Officials say the new deal could lead to further cooperation in those sectors.
Czech Ambassador to Tanzania, Nicol Adamcova, welcomed the agreement, calling it a sign of strong mutual trust.
She highlighted Czech involvement in Tanzania’s Standard Gauge Railway project, saying the electric engines used in the trains were built by a Czech firm.
Officials hope the tax deal will open new opportunities for businesses in both countries and support Tanzania’s goal of becoming a regional trade hub.
