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

Did you know that the Personal Data Protection Act in Tanzania provides several rights for data subjects? Under this Act, a data subject is the individual whose personal data is being processed. The data controller, who determines the purpose and means of data processing, and the data processor, who processes data on behalf of the...Read More

The Personal Data Protection (Personal Data Collection and Processing) Regulations 2023 empower individuals with the “right to be forgotten.” Under this regulation, a data subject, i.e the person whose data is being held, can request that their personal data be erased or destroyed in several circumstances. These include: The data is no longer required for...Read More

AMENDMENTS TO ENVIRONMENTAL MANAGEMENT (CONTROL AND MANAGEMENT OF CARBON TRADING) REGULATIONS, 2022 1.        HIGHLIGHTS OF THE AMENDMENTS: National Carbon Registry Enhancement of Capacity Building, Awareness Raising, and Public Participation Strengthening of Compliance and Enforcement Measures Review and Appeals Process Clarification and Expansion of Definitions (REDD+, Mechanisms, Committee, etc.) Update on Fee Structures and Financial Obligations...Read More

CASE SUMMARY PAN AFRICAN ENERGY TANZANIA LIMITED v JOHN MSIGALA (Civil Appeal No. 163 of 2020) [2024] Court of Appeal of Tanzania at Dar es Salaam, delivered on 4 January 2024) Employers in Tanzania will welcome the Court of Appeal decision in Pan African Energy v John Msigala, for the following reasons: It strengthens employers’...Read More

THE USE OF PENSION FUND MEMBERS’ BENEFIT ENTITLEMENTS AS COLLATERAL FOR HOME MORTGAGES The Social Security (Use of Members Benefit Entitlements as Collateral for Home Mortgage) Regulations GN. No.141 published on 8th March, 2024 allow members to use their benefit entitlements as collateral for home mortgages. Key areas to note: Members to a Pension Fund...Read More