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Equity Bank and Tanzania Revenue Authority in Partnership for payment of Taxes

The new tax settlement avenue will be available for all TRA clients including non- Equity Bank account holders.

By fostering such a partnership, local taxpayers will now be able to conveniently pay the respective taxes including Customs and Excise taxes such as: Import Duty, Excise Duty, Pay As You Earn (PAYE) and VAT on importation.

Equity Bank’s robust core banking system has been integrated to that of TRA’s Revenue Gateway System (RGS) to accept Common Cash Receipting System (CCRS) payment of taxes at all 9 Equity Bank branches.

Speaking during a joint media conference, Equity Bank Tanzania Managing Director Joseph Iha flanked by Senior Accountant TRA Custom and Excise, Mrs. Paulina Ngowi further disclosed that plans are also underway to extend the convenience to all Equity Bank’s 330 Agents countrywide, E-Banking and Mobile platforms in the coming months.

The integration of Equity Bank systems with those of TRA, Iha said is part of the Bank’s commitment to ensuring that it offers convenience for all types of financial transactions and enhancing nation tax collection efficiencies.

“As a corporate responsible local bank, committed to fostering national development in Tanzania, Equity Bank is very keen to enhance tax collection efficiencies,” Iha said. “Such efficient tax collection guarantees national development as these are the monies that are used for infrastructure development, social services and related elements,” Iha added.

On a mutually agreed pact TRA and Equity Bank have sealed the agreement geared at sharing their respective strengths, experiences, Information technologies and human resources to foster higher return on investments for both organizations.

To enjoy the new service at Equity Bank branches, TRA clients will only need to submit their TRA assessment form for customs and excise payments or a control number print out from to Equity Bank confirming the amount they intend to pay.

The Equity Bank teller will receive the due amount as per the control number indication and confirm the transaction. The taxpayer will then be issued with a receipt as a confirmation of payment.

“We are delighted to be working with Equity Bank on this process. Their network across Tanzania and their technological expertise will relieve the strain on our own systems and ensure that we collect maximum revenue, with less hustles and at a shorter period of time compared to the past cumbersome process.

“Our systems and Equity Bank’s are synchronized so that we can track all transactions in real time hence improving efficiency,” added TRA representative Paulina Ngowi.

Equity Bank Group, recently unveiled its upgraded and Group’s robust IT platform which will enable the Bank roll out its future technology driven products, provide comprehensive business functionality and enhance customer experience with its objective of becoming a one stop shop in financial services and products.

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