MBINGA TC REVENUE PROJECTIONS HIKE BY 32 pc

Tarehe ya kuwekwa: July 17th, 2024

By Alex Nelson Malanga

Information Officer----Mbinga TC

Mbinga.  Mbinga Town Council (MTC) has increased its own source revenue projections for the 2024/25 financial year by 32 percent compared to the preceding fiscal year.

Mbinga Town acting director Dr. Kung’e Nyamuryekung’e said on Wednesday (July 17) that MTC is projected to collect Sh3.3 billion in the current financial year compared to the previous year’s Sh2.5 billion.

“This change is triggered by an expansion of the revenue sources. The new sources include billboard permit fees, property tax and land rent,” unveiled Dr. Nyamuryekung’e.

He said of the Sh3.3 billion which is targeted to be collected this financial year by MTC,  the own source proper revenue is Sh2.5 billion and own source protected is Sh0.8 billion.

The projections suggest that MTC will have a task of collecting an average of Sh275 million on the monthly basis, if it is to meet the annual target of Sh3.3 billion.

“We will do whatever it takes to perform handsomely in the current fiscal year,” underscored Dr. Nyamuryekung’e while banking his hopes on a number of strategies that they have in place.

The strategies include education on tax payers on why it is important to pay tax voluntarily, as well as provision of incentives to revenue and levies collection teams, in a fresh bid to boost their morality.

The list of strategies also includes the improvement of the legal framework in line with revising the outdated tax rates for them to fit in the current business environment.

“As per Hon. President Dr. Samia Suluhu Hassan’s directives, we are committed to having a friendly taxation system,” underscored Dr. Nyamuryekung’e.  

He added by exuding his optimism: “This will in turn attract more investors and so is the revenue collection.”

During the last financial year, MTC met 100 percent of its own source revenue collection target of Sh2.5 billion, thanks to a strong revenue collection team and improved compliance.

MTC’s major revenue sources include maize and coffee crop cess, business licenses, rent, service levies, sale of plots, beans crop cess, refuse collection service fees and parking fees.