The country where you can choose your tax rate

Tanzania is going through an unprecedented period of rapid development and growth, particularly in its major cities. This has led to a significant increase in the value of land which is required to build new factories, expand current cultivation areas and build housing for the increasing population in the major cities and town.

Tanzania in international tax law : Tax incentives for foreign investment—1  The Citizen Daily

MANAGING TAX RISKS: Impact of virus crisis on tax collections  The Citizen Daily

Tanzania in international tax law : Tax incentives for foreign investment—2  The Citizen Daily

In our last article we noted that tax planning is an arrangement of one’s financial affairs in such a way that, without violating in any way the legal provisions, full advantage is taken of all tax exemptions, deductions, concessions, rebates, allowances and other reliefs or benefits permitted under the tax laws so that the burden of taxation on the taxpayer is reduced or minimised.

Parliamentary Inquiry on the extent of tax evasion/avoidance, use of tax havens and illicit financial transfer has started

During its 10th annual conference, Southern Africa Development Community organization of Public Accounts Committees a resolution was passed that ” PACs or similar committees should encourage their member states to pass legislation to control the use of tax havens by companies and individuals in order to curb illicit money transfer and tax avoidance/evasion“.

The...

“You can see how this number is big and bad enough is that these producers are not entitled to pay any tax” Robert Jarrin, Senior Executive, Sabmiller East Africa

As discussed in the previous article investment tax incentives in Tanzania are offered to lead and priority sectors including agriculture, Air Aviation, Commercial buildings, Banks, Export oriented projects, Manufacturing, Natural Resources e.g. Timber, Beekeeping, Fisheries, Tourism and Tour Operations, Radio and Television Broadcasting, Transportation etc. In this article we look at tax incentives offered in the agriculture and manufacturing sectors.

Last week we covered some aspects of tax incentives including the fact tax incentives in Tanzania are not consolidated into one tax law but rather spread into various laws including the Income Tax Act, 2004; Value Added Tax Act, 2014;