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4th TEITI Report for the year ended June 2012 Presented by: TEITI Secretariat 1.

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Presentation on theme: "4th TEITI Report for the year ended June 2012 Presented by: TEITI Secretariat 1."— Presentation transcript:

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2 4th TEITI Report for the year ended June 2012 Presented by: TEITI Secretariat 1

3 43 taxpayers selected ( 30, 23,11 previous) 43 taxpayers responded –-Geo Can Resources (unilateral disclosure by Govt) – Maweni Limestone Ltd (provided disclosure but with rounded numbers with no payment flow details) Govt reported to receive TzS 221,979,150 from Geo Can Resources– 0.03% Government receipts TzS 757 Bn (US $ 468 million)  (previous reports: TzS 497Bn, TzS 419Bn, 128 Bn) TzS 760 Bn (US $ 470 million) payments by companies TzS 2.0 Bn Net difference at end of reconciliation HIGHLIGHTS

4 1 st 2 nd 3 rd AND 4 th REPORTS COMPARED

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7 Gold prices past 10 years

8 Contribution by Sector (613/144 Bn, 387/110 Bn)

9 Contribution by Commodity (Revenue) Commodity4 th Report (Tzs in Billion) 3 rd Report (Tzs in Billion) Gold Diamonds98 Limestone Tanzanite64.3 Gas Uranium77 Bauxite0.7-

10 Contribution by Commodity

11 CONTRIBUTION BY PAYMENT TYPE ( IN TzS Billion) Payment Type4 th Report (Tzs in Billion) 3 rd Report (Tzs in Billion) Value Added Tax Pay As You Earn and SDL Royalties and rents Withholding Taxes 8941 Corporate Tax Protected gas revenue and profit per PSA 1938 Excise duty 58 Import duty 2722 Other taxes 55 NSSF contribution 43 PPF contribution 86

12 Companies that paid Corporation Tax S/NO.CompanyAmount Paid in TzS 1.Geita Gold Mine88,143,055,206 2.Resolute Mine Limited37,179,161,754 3.Tanzania Portland Cement Limited23,108,634,369 4.Tanga Cement Company Limited9,911,170,212 5.Mbeya Cement Company Limited4,356,014,765 6.Pan African Energy5,376,580,773 7.Songas Limited2,454,480,000 Tulawaka CIT/VAT offsets (USD 37,990,000 (approx TzS 61,467,440,100)

13 Receipt by Government Agency No.AgencyAmount in Tzs 1. Tanzania Revenue Authority (LTD/DRD/CED)549,642,807, Ministry of Energy and Minerals (MEM)126,441,314, NSSF/PPF50,868,066, Tanzania Petroleum Development Corporation (TPDC) 22,150,352, Local Authorities1,203,634, Ministry of Finance (MoF)704,555, Other receipts from Government Entities outside the reconciliation scope 2,286,112,362

14 Thank You


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