INTRODUCTION In exercising the power vested under Section 39 (1) of the Labour Institutions Act, Cap 300 revised edition 2019, The Honorable Minister for State, Prime Minister’s Office (Labour, Youth, Employment and Persons with Disability), has issued a new Regulation that sets the new minimum wage standards in private sector within the country. The Wages...
INTRODUCTION The Finance Act, 2022 (Act No. 5 of 2022) has amended 36 revenue and other related laws in Tanzania with a view to imposing and altering certain taxes, duties, levies, and fees in order to enhance the collection and management of public revenues. The amended laws are, the Animal Diseases Act Cap. 156, the...
INTRODUCTION In July 2019 the Tax Administration Act, Cap. 438 was amended by the Finance Act, 2019 to establish the Office of the Tax Ombudsman Service. According to section 45 of the Finance Act, 2019 the Office of Tax Ombudsman is responsible for reviewing and addressing any complaint by a taxpayer regarding service, procedural or administrative...
INTRODUCTION The Government of Tanzania through the Central Bank Governor, has issued the new Foreign Exchange Regulations with effect from 13th May 2022. The new regulations were issued through the Government Notice No. 294 of 13th May, 2022 replacing the previous Foreign Exchange Regulations that were issued under Government Notice No. 629 of 1998. Besides,...
INTRODUCTION Between 09th July and 28th September 2021, the President of the United Republic of Tanzania assented into law various amendments of laws that were passed by the Parliament. The Amendments makes numerous changes on various laws to curter for among others, compliance, and regulatory business environment in Tanzania. This update, therefore, reviews some of the amended...
INTRODUCTION On 08th October 2021, the Government of Tanzania published a set of new Tax Regulations that provides and carters for efficient tax administration but also streamline the tax exemption process and procedures. The Regulations issued are: The Tax Administration (Remission of Interest and Penalties) (Revocation) Regulations 2021 Government Notice No. 713 of 2021 The...
The Government of Tanzania has granted amnesty for illegal firearm owners to surrender their illegal owned Firearms and Ammunition within a period of 30 days between 01st November 2021 to 30th November 2021. According to the Government Notice No. 774 of 2021, namely, Exemption of People surrendering Firearms Notice, 2021 that was issued by the...
The Bank of Tanzania (BOT) in collaboration with Tanzania Investment Centre (TIC) and the National Bureau of Statistics (NBS) will conduct a quarterly survey of companies with foreign liabilities in Tanzania, in 2021 during August – October 2021 as communicated in their joint Press Release of 10 August 2021. The survey will be conducted through...
The Government of Tanzania through the Ministry of Home Affairs (under the Office of Registrar of Societies) has issued new directives to change the status of all existing Certificates of Registration of Societies from permanent registration to time based registration. According to the Public Statement from the Registrar of Societies dated 10th August 2021 notified...
Our Tax and Regulatory Compliance Team shares the important Tax and Regulatory Compliance dates for the month of June 2021.
FIN & LAW and Cross Border Associates (CBA) entered into an agreement for global alliance to facilitate global cross-border mid-market mergers and acquisitions and all related services.
