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 ...

Employer’s Return of Earnings – Workers Compensation Fund

Further to the requirement for all Employers to register and contribute to Workers Compensation Fund, employers are required to fill in and file an annual return called ‘EMPLOYER’S RETURN OF E...

Common Errors in Form 128 – Date

All limited liability companies are required to file, among other documents, an annual return at BRELA. This return is referred to as the Form 128 in forms schedule under the Companies Act, 2002. A lo...

VAT on International Transport for Goods in Transit

The VAT Act 2014, charges VAT at the rate of zero to the supply of services involving international transport of goods. Therefore, the transportation of goods to/from outside the United Republic of Ta...

Declaration of Head of Finance/Accounting

The National Board of Accountants and Auditors (NBAA) requires financial statements to be accompanied with a declaration issued by the Head of Finance/Accounting responsible for the preparation of fin...

Verification of taxpayers’ records

TRA has announced that all Taxpayer Identification Number (TIN) holders are to report to any TRA offices for their records to be verified and updated. The implementation of the first phase will run fr...

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 maxi...

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): UPDA...

Tanzania Budget 2016-2017 – Proposed changes

Its that time of the year again when Ministers of Finance in the East African Countries pose for a photo with the famous Budget briefcases before addressing their respective national assemblies to unv...

How to Register your tax payment with TRA

Tanzania Revenue Authority (TRA) have introduced an Online Payment Registration Gateway. Taxpayers are required to register their intent to make a payment online on the TRA gateway. The gateway issues...