A New Day for Tanzania – Please Join Us

A new dawn for Tanzania and FDI

The change of tone ushered in by President Samia Suluhu Hassan over the last month could indicate a welcome new economic direction in Tanzania. Could this be the beginning of a different policy approach to foreign direct investment to Tanzania as well as the ease of doing business in the country? We are pleased to invite you to our webinar, where a panel of policy experts will discuss what conditions and changes investors could and should expect to Tanzania’s investment regime.

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The Effects of the Finance Act, 2020 on Tax Adjudication

Introduction:
The Finance Act, No. 8 of 2020 came into force on 15th June, 2020. The Act amends a number of provisions of different laws, which include the Tanzania Revenue Authority Act (Cap. 399), the Tax Administration Act (Cap. 438), the Value Added Tax Act (Cap. 148), and other laws. In this article, we shall point out the changes that the Finance Act has made to the Tax Administration Act, which has been amended in the following ways.

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TRA Extends Electronic Filing of Income Tax Returns to Cover PAYE

On 18th August 2020, the Tanzania Revenue Authority (TRA) issued a public notice to require all employees to have a Tax Payer Identification
Number (TIN).

The reason behind the said requirement is the introduction of the new online system for tax collection known as Electronic Filing System of Tax Returns (E-filing). The system is set to facilitate companies or institutions on the following:

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Public Notice from BRELA

The Registrar of Companies has issued a public notice calling on all companies incorporated or registered under the Companies Act [Cap 212 R.E. 2002] to ensure full compliance with their statutory annual returns. The public has been asked to require production of a copy of certificate of incorporation together with a copy of the latest annual returns (or annual accounts for companies incorporated outside Tanzania and having a registered office in Tanzania) endorsed by the Registrar or an official search report issued by the Registrar prior to signing of any contractual arrangements. The notice may be viewed at www.brela.go.tz.

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