The Tanzania Revenue Authority (TRA) has announced that it collected a staggering amount of Sh24.11 trillion in tax revenue for the fiscal year 2022-2023. This figure represents an impressive 97.4 percent of the annual target set by the authority. Although the TRA narrowly missed its goal of Sh24.76 trillion by a mere 2.6 percent, the collection is considered a remarkable success, especially when compared to the previous fiscal year's tax revenue. During the 2021-2022 fiscal year, TRA records show that over Sh22.28 trillion was collected, indicating a significant increase in revenue for the current period. TRA Commissioner General, Mr. Alphayo Kidata, attributes this remarkable growth to various factors, including the strengthening of tax collection systems, improvements in working conditions, and the availability of adequate human resources. Mr. Kidata emphasized that in the upcoming fiscal year 2023-2024, it is crucial for taxpayers to prioritize key issues such as the issuance of electronic receipts, payment of appropriate taxes, manufacturers utilizing tax stamps, and continued awareness-raising on tax matters. Economic experts have applauded the TRA for its enhanced efficiency in tax collection, primarily through the implementation of electronic systems, resulting in an impressive 8.2 percent increase in revenue. Dr. Hildebrand Shayo, an economist and investment banker, praised the TRA's efforts to facilitate tax payment by introducing measures like the electronic tax filing system, which he believes will contribute to meeting the revenue targets in the current fiscal year. Dr. Shayo further elaborated that the government's support and reduction in the minimum capital required to start a business will generate more tax revenue in the long run, thereby enabling the TRA to achieve its fiscal goals. He expressed optimism that meeting the envisioned target would set Tanzania's economic development on the right track, allowing the government to fulfill its obligations to public servants and pensioners over time. The economist also suggested that the TRA consider reassessing tax rates and thresholds. For instance, adjusting the thresholds for Value Added Tax (VAT) registration from 100 million/- to 200 million/- could encourage more businesses to voluntarily register for VAT. This adjustment would ensure that businesses do not exceed the threshold and become more willing to fulfill their tax obligations. Mr. Christopher, a tax analyst, emphasized the importance of carefully analyzing the potential impact of such adjustments on tax revenues to ensure desired outcomes are achieved. In the previous fiscal year 2021-2022, the TRA accomplished an impressive 99.22 percent of its target, collecting a total of 22.28 trillion/-. Building on this success, the authority set a higher target of 24.76 trillion/- for the fiscal year 2022-2023. Despite falling short of the goal, the TRA managed to collect 97.2 percent of the target, signifying an 8 percent growth compared to the previous year. The TRA's notable achievements in tax collection reflect positive economic growth and a commitment to improving revenue generation in Tanzania. With ongoing efforts to enhance tax systems and streamline processes, the authority is poised to make even greater strides in the future, contributing to the country's overall development.