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Student's Book Form Five

of 1995, and started its operations on 1 July a conducive environment for medium-sized
st
1996. In carrying out its statutory functions, businesses to operate and thrive. Through
TRA is regulated by law, and is responsible its efforts to enhance the performance of the
for overseeing tax administration and trade sector, TanTrade indirectly supports
revenue collection in Tanzania. Medium- medium-sized businesses by facilitating
sized businesses are subject to various tax access to markets, promoting export
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obligations, including corporate tax, Value- opportunities, and providing regulatory
Added Tax (VAT), and payroll taxes. TRA guidance. Additionally, TanTrade’s
plays a vital role in ensuring compliance initiatives to organise international trade
with tax laws and regulations, providing fairs create platforms for medium-sized
guidance and assistance to medium-sized businesses to showcase their products,
businesses in fulfilling their tax obligations. expand their networks, and explore new
In keeping up with technological business opportunities both domestically
advancements, TRA offers online platforms and internationally.
and services for tax registration, filing,
and payment, streamlining tax processes, Small Industries Development
and enhancing compliance among Organisation
medium-sized businesses. In Zanzibar, Small Industries Development Organisation
the Zanzibar Revenue Authority (ZRA) (SIDO) was established under the Act No. 28
works hand in hand with TRA to enhance of 1973. Since its establishment in October
tax administration. Tax compliance by 1973 under the then Ministry of Trade,
medium-sized enterprises allows the Industry, and Marketing, SIDO has played
government to carry out its functions a significant role in nurturing medium-
like provision of education, health and sized businesses in Tanzania. Originally
infrastructure development effectively. This tasked with developing the small industry
in turn helps to mitigate medium-sized sector, SIDO has also evolved to provide
business challenges hence improving their comprehensive support to medium-sized
performance. enterprise development by providing access
to infrastructure, technology, and skills
Tanzania Trade Development development. Moreover, SIDO collaborates
Authority closely with other government agencies and

Tanzania Trade Development Authority international donors, including Tanzania
(TanTrade) was established by the Tanzania Bureau of Standards (TBS), Swedish
Trade Development Authority Act No. 4 International Development Cooperation
of 2009. TanTrade replaced the Board of Agency (SIDA), and the World Bank (WB)
External Trade (BET) which was established to implement programs aimed at supporting
by Act No. 5 of 1978 and the Board of businesses in Tanzania. These initiatives
Internal Trade (BIT) Act No. 15 of 1973. In encompass technology development and
facilitating trade, TanTrade works to create transfer which has significantly contributed

Business Studies for Advanced Secondary Schools 50

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Business Studies FORM 5.indd 50 30/06/2024 19:02:33