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;

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This resolution is a result of a private members motion moved by Rt. Hon. Kabwe Zuberi Zitto, MP on 9 Novermber, 2012.

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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

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