S R AUDITORS

Tanzania Budget 2017/18

Yesterday, Tanzania’s Minister for Finance & Planning, Hon. Dr. Philip Mpango, tabled at the Parliament of Tanzania, the estimates of government revenue and expenditure (national budget for Tanzania) for the fiscal year 2017/18. The Hon. Minister informed the Parliament that the Budget had taken on board the recommendations from various stakeholders, including business community and […]

Statement of estimated tax payable

Every registered business (company and individuals) are required to prepare and file to TRA a statement which shows the estimated tax payable in each year of income. Forms Used by entities: ITX 202.01.E ESTIMATES – Entity form Statement of estimate/revised estimate of tax payable by installment made on behalf of an entity. Used by individuals: ITX […]

Income Tax rates for Tanzania 2016-2017

The Finance Act, 2016 has confirmed the new income tax rates (PAYE rates) for the fiscal year 2016-2017. Apart from a reduction of 2% in the second band, there is no change. This will result in a maximum saving of TZS 3,800 for employees who earn TZS 360,000 or above. For professional tax advice, connect […]

Tanzania’s Finance Bill, 2016 & Finance Act, 2016

Tanzania’s Finance Bill, 2016 is released to public on 13 June 2016. The following are summary of the proposals as per the first draft (as compared to and in addition to the Budget Speech): UPDATE: 23 June 2016 : The Tanzanian Finance Act, 2016 has been passed by parliament. The relevant changes are highlighted in […]

The Workers Compensation Act, 2008 – Requirements

The Workers Compensation Act, 2008 was finally given some teeth to chew as announced by the Minister for Labour and Employment during her 2014/15 speech to announce her ministry’s budget. This was effective from 1 July 2014. Employers in the private sector are required to contribute 1% of their gross wage bill to the fund […]

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