Abolition of annual motor vehicle license and increase of excise duty on fuel. Abuse of charitable status by charitable organizations addressed. Withholding tax to small and medium scale miners. Emphasis on Government e-payment system (GePG). Abolition of VAT on transit goods to be consumed outside Tanzania. The Finance Bill, 2017 (“The Bill”) dated 2nd June, […]
Transfer of Foreign Currency from Tanzania; The Governing Law and Procedure
• Impact of the centralized economy on foreign currency transfers. • Roles and Responsibilities of the Banks, Financial Institutions and Authorized Cash Dealers. • Bureau De Change vested with a new role of foreign currency transfer. • Transfer of Foreign Currency by Investors. • Limit of Foreign Currency to Residents travelling abroad. • Financial Crimes […]
Tanzania Introduces New Taxing Rules On The Mining and Petroleum Operations As Per The Finance Act, 2016
The Finance Act, 2016 has been passed by Parliament and became effective as from 1st July, 2016. Breakthrough Attorneys has noted that this Act has introduced new taxing provisions for both mining and petroleum operations. Part V, Division IV has been added to cater for taxation on mineral operations. Part V, Division V introduces taxing rules […]
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