Parliamentary Resolution Tasking the Government of United Republic of Tanzania to Investigate and Take Action Against Tanzanians Hiding Illicit Money Offshore

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PARLIAMENT OF TANZANIA

RESOLUTION NO.9/20121

PARLIAMENTARY RESOLUTION TASKING THE GOVERNMENT OF

UNITED REPUBLIC OF TANZANIA TO INVESTIGATE AND TAKE ACTION

AGAINST TANZANIANS HIDING ILLICIT MONEY OFFSHORE

Since, the act of hiding money offshore is against foreign

exchange act, 1992, Bank of Tanzania act 2006 and Banking and

Financial institution act 2006 and that the assets hidden are either

proceeds of corruption or tax evasion or avoidance;

Since, only the governor of Bank of Tanzania shall permit transfer

of money from United Republic of Tanzania and opening of a

foreign Bank account in another country;

Since, Tanzanians with foreign bank accounts might have

contravened the laws mentioned and that hiding money in

offshore accounts is illegal;

Since, our country has been in crisis of foreign exchange as well as

tax revenue to finance our own development;

1This resolution is a result of a private members motion moved by Rt. Hon. Kabwe Zuberi Zitto, MP on 9

th

Novermber, 2012.



Therefore, The Parliament of the United Republic of Tanzania, in its

9th session makes the following RESOLUTIONS:-

1. That, The Government shall investigate extensively, using

internal and external expertise on the illicit money transfer

from Tanzania and Tanzanians hiding money in tax havens

and other offshore jurisdiction and submit its report at the 11th

session of parliament. If the report will not suffice, parliament

will form its own parliamentary probe team.

2. That, all Tanzanians with foreign bank accounts must explain

how they obtained the money and Prevention of Corruption

Bureau (PCCB) shall take actions against all owning wealth

not in line with their legal incomes.

3. That, the government communicate with the World Bank’s

Assets Recovery Unit so that they help to trace and bring

back hidden cash and assets of Tanzanians in Switzerland

and other offshore jurisdictions as these assets are either

products of tax evasion, tax avoidance or corruption.

4. That, the government explore the feasibility of introducing a

financial transaction tax in order to track the flow of money

in and outside the country



5. That the government shall report to Parliament during the

11th session of Parliament.

Passed by National Assembly on the 9th November, 2012

(signed)

Dr. Thomas D. Kashilila

Clerk of the National Assembly

Documents

Parliamentary Resolution Tasking the Government of United Republic of Tanzania to Investigate and Take Action Against Tanzanians Hiding Illicit Money Offshore