The Bank’s Business Development Manager, Mr Prochest Kachenje, told reporters that the outcome of the study will enable the Board of Directors to allow the Bank to open branches upcountry.
The Bank has been licensed by the Bank of Tanzania to operate as a full- fledged commercial bank.
“Yes, after more than ten years of successful operations as a Community Bank in Dar es Salaam Region we have now established a process that will enable us open our first branches upcountry as required by the Bank of Tanzania,” he said.
Mr Kachenje was speaking at Mnazi Mmoja grounds where the Bank took part in the just ended Tax Payers Exhibition Week and hosted by the Tanzania Revenue Authority (TRA). According to him, DCB Commercial Bank has entered into partnership with TRA and will collect taxes on behalf of the authority.
A business agreement to this end was signed by the two parties last month. The taxes are collected through the Bank’s six branches which are currently operating in Dar es Salaam. Mr Kachenje advised current and prospective Bank customers to pay their taxes as required by law.
He said that the exhibition was important for consumers, the business community and members of the public in general. The event helped create awareness on the importance of paying taxes for the development of the nation apart from getting financial services that are provided by participants who included his bank.
Although he was not in a position to give figures, Mr Kachenje said that the first month since they started collecting taxes on behalf of TRA has showed that people are becoming more educated on matters related to taxation but urged TRA to enhance its campaigns.
For the last one year the Bank has paid various taxes totalling 15.1bn/-. These include income taxes (7.1bn/-), Pay as You Earn (PAYE) (3.6bn/-), skills development levy (1bn/-) and withholding taxes (3.4bn/-).
Source: Daily News, reported by Pius Rugonzibwa from Dar es Salaam, Tanzania
Mr Kachenje was speaking at Mnazi Mmoja grounds where the Bank took part in the just ended Tax Payers Exhibition Week and hosted by the Tanzania Revenue Authority (TRA). According to him, DCB Commercial Bank has entered into partnership with TRA and will collect taxes on behalf of the authority.
A business agreement to this end was signed by the two parties last month. The taxes are collected through the Bank’s six branches which are currently operating in Dar es Salaam. Mr Kachenje advised current and prospective Bank customers to pay their taxes as required by law.
He said that the exhibition was important for consumers, the business community and members of the public in general. The event helped create awareness on the importance of paying taxes for the development of the nation apart from getting financial services that are provided by participants who included his bank.
Although he was not in a position to give figures, Mr Kachenje said that the first month since they started collecting taxes on behalf of TRA has showed that people are becoming more educated on matters related to taxation but urged TRA to enhance its campaigns.
For the last one year the Bank has paid various taxes totalling 15.1bn/-. These include income taxes (7.1bn/-), Pay as You Earn (PAYE) (3.6bn/-), skills development levy (1bn/-) and withholding taxes (3.4bn/-).
Source: Daily News, reported by Pius Rugonzibwa from Dar es Salaam, Tanzania
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