The Personal Data Protection Commission (PDPC) has extended the registration deadline for data controllers and processors to 30th April 2025. Compliance with the Personal Data Protection Act, of 2022 is not optional. It is a legal requirement and essential for safeguarding personal data and ensuring trust in Tanzania’s growing digital economy. ⚠ Why Act Now?...Read More

Introduction The Finance Act 2020 amended the Company Act, the Trustees Incorporation Act, the Anti-Money laundering Act and Income Tax Act introducing the concept of Beneficial Ownership aligning Tanzania’s Beneficial Owers identification protocols to international and reginal standards. The intension is to Identify the natural person and persons who ultimately own or controls a company...Read More

UPDATE TO CLIENTS NEW SHAREHOLDING THRESHOLD FOR BENEFICIAL OWNERS’ DISCLOSURE KEY HIGHLIGHTS: The Finance Bill, 2022 has proposed changes to the Companies Act, by amending the definition of a Beneficial Owner (BO) and providing that BO will have the meaning ascribed to it under the Anti Money Laundering Act (as amended) (AML Act); The definition...Read More

BENEFICIAL OWNERS AND COMPANY COMPLIANCE REQUIREMENTS Who is a “Beneficial owner”? The Companies Act Cap 212 defines a “beneficial owner” as a natural person: – who directly or indirectly ultimately owns or exercises substantial control over an entity or an arrangement; who has a substantial economic interest in or receives substantial economic benefit from an...Read More