DAR ES SALAAM, March 19 -- STAKEHOLDERS have underscored the importance of creating a friendly business climate and harmonising systems among tax-collecting institutions to encourage more informal traders to formalise their businesses.

They stated that creating a friendly environment in tax collection would yield numerous benefits for both government and businesses, as it promotes enhanced cooperation, transparency and mutual respect between tax authorities and taxpayers.

They further noted that when tax authorities adopt a supportive approach, it often leads to higher compliance rates.

A conducive environment encourages voluntary compliance, with businesses feeling more comfortable fulfilling their tax obligations.

This, they said, c...