The new tax settlement avenue will be available for all TRA clients including non-Equity Bank account holders.
Tanzanian Taxpayers will be able to pay 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 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 nine Equity Bank branches in Tanzania.
Speaking during a media conference, Equity Bank Tanzania Managing Director Joseph Iha further disclosed that plans are also underway to extend the service to all Equity Bank’s 330 agents countrywide, e-banking and mobile platforms in the coming months.
“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.
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,” Senior Accountant TRA Custom and Excise, Paulina Ngowi said.
“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 IT platform which will enable the bank to roll out its future technology products and enhance customer experience.