Implications under the Written Laws (Miscellaneous Amendments) Bill, 2026 The Government has published the Written Laws (Miscellaneous Amendments) Bill, 2026 (the “Bill”) in the Special Gazette dated 15 January 2026, proposing amendments to various statutes, including significant changes to the Companies Act (CAP. 212 R.E. 2023) (the “Companies Act”). This […]
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 […]
KEY HIGHLIHTS: 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 of a BO under the […]
Who is a “Beneficial owner”? 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 entity or an arrangement directly or indirectly whether acting alone or together with other persons; […]
