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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.

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

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  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

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