Sunday, 7 December 2008

TRA still waiting on Alstom billions

From IPPMedia, Dar es Salaam
By Polycarp Machira

In the three months since the Tanzania Revenue Authority (TRA) seized property and bank accounts belonging to Alstom Power Rentals Limited LLC, no breakthrough has been reached in recovering the staggering 14bn/- in back taxes.

Early this year, a whistleblower revealed the American energy company had evaded taxes for its operations in Mwanza City, prompting the TRA to seize the company's assets - Electricity Power Generating Plant - under a walking possession agreement, in which the assets are not removed from the debtor's property but are legally signed over to the debt collector, in this case the TRA.

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