Broadening Tax Base through Mandatory Electronic Payments
Latest Tanzania finance news · Broadening Tax Base through Mandatory Electronic Paymen… explained · updated Aug 7, 2026 · economy news · GDP · investment
TLDR
- The Electronic Transactions (Mandatory Electronic Payments for Specified Transactions) Order, 2026, that took effect on July 1 this year, prohibits cash payments for a range of transactions such as public transport.
- Implementing mandatory electronic payments generates digital transaction records, making it easier for tax authorities, regulators and financial institutions to track economic activity.
- Making electronic payments mandatory could boost this development by encouraging more citizens to use formal financial services.
- Digital payments worldwide are fundamental to digital commerce, supporting e-commerce, online travel bookings, electronic ticketing, ride-hailing and digital government services through secure electronic payment systems.
- DAR ES SALAAM: THE government’s move to require electronic payments for a wide variety of transactions represents one of the most major reforms to the country’s payment system since mobile money was first introduced.