Illicit financial flows burden Tanzania's national budget

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Illicit financial flows burden Tanzania's national budget

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Illicit financial flows burden Tanzania's national budget

//business-finance.news-articles.net/content/202 .. ial-flows-burden-tanzania-s-national-budget.html

Published in Business and Finance on Friday, March 7th 2025 at 3:01 GMT by IPPMEDIA

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

The article from IPP Media discusses how illicit financial flows (IFFs) are significantly impacting Tanzania's national budget. According to the article, IFFs, which include activities like tax evasion, corruption, and smuggling, are draining resources that could otherwise be used for development. The Tanzania Revenue Authority (TRA) has noted that these flows not only reduce government revenue but also hinder economic growth by depriving the country of funds needed for public services and infrastructure. The article highlights that despite efforts to curb these flows, the problem persists, with estimates suggesting that Tanzania loses billions of dollars annually due to IFFs. This situation has led to calls for stronger international cooperation and more robust domestic policies to tackle the issue effectively.

Read the Full IPPMEDIA Article at:
[ https://www.ippmedia.com/the-guardian/business/read/illicit-financial-flows-burden-tanzanias-national-budget-2025-03-06-164443 ]