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Article

22 Sep 2014

Author:
Damas Makangale, in East African Business Week

Tanzania proposes to make corporate social responsibility compulsory

"Tanzania wants to make CSR compulsory" 21 September 2014

This will encourage businesses, including multinational corporations, to contribute to community projects. Currently the choice is largely left up to the companies themselves...Tanzania Revenue Authority (TRA), Manager Tax Payers Service and Education, Diana Masalla said  the government is looking forward to introducing a law on CSR to ensure that corporate companies are contributing to social wellbeing of the people. “There is ongoing discussion in the government on how the best way to handle the CSR act that will be useful to the country and the social wellbeing of the people in Tanzania,” she said. In Tanzania, firms from various sectors such as energy, gas, mineral, oil and financial services, set aside a certain percentage from their annual profits for CSR. She said the enacted laws will regulate the CSR and pave the way for the government to evaluate companies’ profits and their contributions to CSR annually but with long term plans to develop mutual relationship between firms and communities across the country.