Tanzania: regulations on transfer pricing released
The Transfer Pricing Regulations in Tanzania has finally been released through Government Notice No. 27 of 2014 and which is effective from 7 February 2014. The Income Tax Act 2004 already had a requirement in section 33 to transact between
See MoreTanzania: Reconsiders gas windfall tax proposal
Tanzania may decide against a windfall tax on production, which had been considered as part of the National Natural Gas Policy (NNGP). It is now considered that a windfall tax might not be appropriate in the initial stages of natural gas extraction,
See MoreTanzania – Requirements for business licenses
Recently Tanzania’s Ministry of Industry and Trade issued details of the procedures necessary for businesses to register for or renew their business licenses on or before 31st December 2013. In July 2013 the Permanent Secretary in the Ministry of
See MoreTanzania: Tax proposals for 2013 budget
The Tanzanian Budget for 2013 was presented to the National Assembly by the Minister of Finance and key changes made by the Budget proposals are summarized below: Reduction of the minimum tax rate for individuals from 14% to 13%. Abolition of a
See MoreTanzania: Budget for 2012-13
The Budget for 2012-2013 is generally effective from 1 July 2012. The key points of the Budget are summarized below: Corporate taxation Introduction of a 10% withholding tax on interest income earned by non-residents from banks, as is the case
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