For businesses that have their financial year ending on 31 December, the deadline to submit the return of income and financial statements is 30 June. As we approach the deadline to submit the return o...
Ali ibn Abi Talib (peace be upon him) on the occasion of Eid gave a sermon. The following is an extract: O people! Verily this day of yours is the day when the righteous are awarded and the wretched a...
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 ...
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...
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...
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...
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...
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...
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...
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...