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ACCA eyes post-coronavirus pandemic economic recovery

Members of the Association of Chartered Certified Accountants (ACCA) in Tanzania held a virtual conference in a deliberate bid to jerk their role in putting the economy on track amidst the Covid-19 pandemic impact on world economies.

Hundreds of ACCA members and professional ambassadors from across Tanzania took part in the annual members conference 2020 (AMC 2020) at the weekend.

“As we focus on a post-pandemic economic recovery, it’s important to rethink the future together. This conference was able to bring together many ACCA members and ambassadors for the profession, emphasising the impact of our professional body during these exceptional times,” said ACCA Tanzania Head Jenard Lazaro.

He said the conference had brought together members across Tanzania together so that they could celebrate successes of ACCA.

“It’s an opportunity to look ahead of what will shape the future of our profession here and globally in the coming years. It’s also an occasion for members to better understand and share with each other, which is integral to expanding the knowledge of the finance profession across Tanzania,” he said.

During the conference, participants were taken through a variety of presentations to update them on latest developments in areas directly linked to their profession.

Tanzania Revenue Authority (TRA) Principal Tax Officer Beatus Nchota said ACCA: “Unlike the previous system, e-filing enables taxpayers to file their returns without travelling all the way to TRA offices. They can file the returns at the comfort of their offices unlike with former system that compelled them to visit TRA offices to file their returns,” he said.

He said taxpayers were no longer compelled to wait for several weeks, months or even a year for TRA to login their information before they could pay tax.

This is because with the filing done electronically since last month (August), actual assessment is almost conducted instantly, thus allowing taxpayers to pay their dues on time.

To simplify the process, TRA has also come up with a new set of forms that allow taxpayers to present their information thoroughly.

ACCA members also got a chance to understand the types of tax for which return filling could be done electronically.

With cybersecurity becoming a hot topic as the world goes digital, PwC Associate Director Neemayani Kaduma reminded ACCA members to avoid the allure of falling prey to phishing attacks.

She said gone were the days when Tanzania could consider cybercrime for those living in other countries.

In fact, she said, data from Tanzania Computer Emergency Response Team (TZ-CERT) which tracked cyber-attacks in Tanzania showed the attacks had been on the rise as the world went digital.

“This means that we are not immune to cyberattacks... We all have a role to play in the protection of our devices and the information we share,” she said.

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Author: DAILY NEWS Reporter

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