The requirement for transfer pricing documentation has been in place since February 7, 2014 but the Tanzania Revenue Authority (TRA) had not previously enforced this requirement. TRA have started requesting transfer pricing documentation from taxpayers from September 2015.
Tanzanian regulations require taxpayers with related-party transactions to have contemporaneous transfer pricing documentation in place before filing a final tax return. The Regulations impose a penalty of not less than 50 million Tanzanian shillings (approximately USD 23,000) for non-compliance with the transfer pricing documentation requirement.
