1 / 6

TANZANIA EXTRACTIVE TRANSPARENCY INITIATIVE (TEITI): FIRST RECONCILIATION FOR JULY 08 TO JUNE 2009

TANZANIA EXTRACTIVE TRANSPARENCY INITIATIVE (TEITI): FIRST RECONCILIATION FOR JULY 08 TO JUNE 2009. JUVINAL BETAMBIRA, FCCA AUDIT DIRECTOR, BDO EAST AFRICA ( TANZANIA). OVERVIEW OF PRESENTATION. SUMMARY OF UN RESOLVED DIFFERENCES RECOMMENDATIONS FOR FUTURE RECONS.

edythe
Télécharger la présentation

TANZANIA EXTRACTIVE TRANSPARENCY INITIATIVE (TEITI): FIRST RECONCILIATION FOR JULY 08 TO JUNE 2009

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. TANZANIA EXTRACTIVE TRANSPARENCY INITIATIVE (TEITI): FIRST RECONCILIATION FOR JULY 08 TO JUNE 2009 JUVINAL BETAMBIRA, FCCA AUDIT DIRECTOR, BDO EAST AFRICA ( TANZANIA)

  2. OVERVIEW OF PRESENTATION • SUMMARY OF UN RESOLVED DIFFERENCES • RECOMMENDATIONS FOR FUTURE RECONS

  3. DETAILS OF UN RESOLVED DIFFERENCES • Taxes Charged under Income Tax Act, 2004; Tshs 19.5 Billion ( government (TRA) reporting less) • Mainly ( Tshs 16 billion) caused by Excise duties difference between Geita Gold Mine and TRA and the rest is caused by diffs on Import duties and withholding taxes • Sector specific Taxes in Tshs; Tshs 4.5 billion ( government (MEM) reporting less) • Mainly caused by the differences between TPDC and MEM as regards the sales for protected gas and profit sharing in the PSAs • Revenue collected on behalf on the government; Tshs 0.6 billion ( government-(TRA) reporting more) • Sector specific Taxes in USD; USD 18 million ( government (MEM) reporting less) • Mainly caused by the differences between MEM and mining companies as regards royalty payments

  4. MAIN CAUSES OF DIFFERENCES • Mixing up of revenue flows • Cash basis against accrual • Difficulties in extracting information • Information out of reporting period • Non comprehensive templates • USD and Tshs • Erroneous reporting Berlin 2009 - Risk Management Conference - Presentation title

  5. RECOMMENDATIONS FOR FUTURE RECONS • Detailed scoping exercise should be done-basis of template formulation and covered entities • Training and capacity building before the next reconciliation-especially Government staff and all staff involved ( cash basis, cut off, template completion, purpose, format of information) • Key contact personnel should be middle management • Improve template design and completion instructions ( cash basis and accrual, USD versus Tshs) • Perform reconciliation annually • Clear leadership of MSG and TEITI secretariat ( more involvement needed) • Templates should be issued by reconciler and returned to the reconciler • Consider increasing the scope ( number of entities) of the next reconciliation

More Related