Our Esteemed Clients, Business Partners and Friends, We at FIN & LAW are very pleased to have served you throughout 2019. As we are approaching the end of the year 2019 we would like to take this opportunity to thank you very much and wish you a Merry Christmas and a Happy new year 2020....
LEGAL ALERT: The Mining Act Cap. 123 has been amended to introduce a new license for Gemstone dealers. The amendments which came into effect through the Written Laws (Miscellaneous Amendments) (No. 7) Act, 2019, put a requirement for any person conducting lapidary activities (to cut, polish, or engrave gemstones) to apply for the license. The...
Our Tax and Regulatory Compliance Team shares the important Tax and Regulatory Compliance dates for the month of December 2019
The HIV and AIDS (Prevention and Control) Act, Cap. 431 has been amended to allow HIV Self-Testing. The amendment came amidst the World Aids day celebrated every 01st December. According to the Written Laws (Miscellaneous Amendment) (No. 7) Act, 2019 the HIV and AIDS (Prevention and Control) Act, Cap. 431 was amended in November 2019...
The Central Bank of Tanzania (BOT) has issued a public notice on 12th November, 2019 against the use of Virtual Currencies (Cryptocurrencies) in Tanzania. The Notice cautions the public against trading, marketing and usage of virtual currency because doing so is contrary to existing foreign exchange regulations. According to the notice, the Central Bank insisted...
Effective 01st November, 2019 Microfinance Companies in Tanzania have 12 months to comply to the licensing requirements of the Microfinance Act, Cap. 407. According to Regulation 12 of the Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations, 2019, Microfinance Companies that were operating business before the commencement of the Microfinance Act and fails to meet the...
The Central Bank prohibits Operating Payment Systems Instruments Without Approval: On 15th October, 2019 the Central Bank of Tanzania (Bank of Tanzania) issued a Circular No. LB.178/179/01/8 to all Operating Banks and Financial Institutions in Tanzania warning against engaging, partnering or enter into agreements with other entities to operate payment systems instruments without the Central...
The Written Laws (Miscellaneous Amendments) (No. 5) Act, 2019 made amendments to the Firearms and Ammunition Control Act, Cap 223 to control possession of fireworks. The amendments provides that, any person who import, manufacture, sell or otherwise supply fireworks without the approval of the Inspector General of Police (IGP) is guilty of an offence and...
The National Arts Council Act, (Cap. 204) was amended by Written Laws (Miscellaneous Amendments) (No. 5) Act 2019 (Act No. 12 of 2019) to widen and recognize broader artistic works such as modeling, pageantries, fashion designs and such related works. Also, playwriting and music composition are also recognized arts through the new amendments. More important,...
The Registrar of Companies has issued 90 days deadline requiring Companies to update their information through the Companies online system. The requirement came into effect on 27th September, 2019 when the notice was published. Among others, the statement has listed the requirements to be complied when updating the information including:- To ensure Companies update information which...
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.
