Breakthrough Attorneys has prepared this Article as a guide to businesses and service providers on the current limitations on foreign currency transactions in Tanzania.
FINANCE AND TAX LAW UPDATE: OVERVIEW OF THE TAX AND NON-TAX CHANGES FOR TANZANIA AS PER FINANCE ACT 2024
Fiscal receipt is a mandatory requirement for local purchases for income tax Rental of construction machinery and equipment attracts WHT at the rate of 10% Service of documents between the Commissioner General and Taxpayers by electronic means acceptable Admission of notices of objection made clearer Value of 1 currency point increased to TZS 20,000 Supply […]
FINANCE LAW UPDATE: ANALYSIS OF RECENT AMENDMENTS TO TANZANIA’S FOREIGN EXCHANGE REGULATIONS
The Foreign Exchange Regulations, GN No. 294 (the Regulations), were issued by the Governor of the Bank of Tanzania in May 2022. The Regulations was a much awaited update of the Foreign Exchange Regulations, 1998 and the Foreign Exchange (Listed Securities) Regulations, 2003, and the Foreign Exchange Circular No. 6000/DEM/EX.REG/58 of 24th September 1998 which regulated foreign exchange in Tanzania before the Regulations.
FINANCE AND TAX LAW UPDATE: OVERVIEW OF THE TAX AND NON-TAX CHANGES FOR TANZANIA AS PER FINANCE ACT 2023
With the issuance of the Finance Act 2023 which comes into operation on 1st day of July, 2023, there are various tax and non-tax changes to our laws that have been enacted. Below, we have looked into the changes that are worth noting for your business or investment at this point
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