Imposing new laws
The Tanzanian government submitted three bills to parliament on Thursday that would allow it to force mining and energy companies to renegotiate their contracts, Reuter reports.
It was not immediately clear how the proposed renegotiation of contracts would affect a planned $30 billion gas project, or the troubled mining sector, which generates about 3.5 percent of Tanzania's gross domestic product.
Businesses have complained that they feel President John Magufuli is unfairly squeezing them through a strict interpretation of tax laws, increased fines and demands they rapidly list on the local stock exchange. Magufuli says the reforms will increase transparency and revenues and that the companies have not been paying their fair share of taxes, charges they strongly deny.
