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Reforming Tax Deductibility Rules for Banks’ Loan Loss Provisioning

By Dr. Straton Makundi Introduction The banking sector in Tanzania plays a major role in economic growth and financial stability. …

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Taxation of Terminal Benefits in Tanzania

Taxation of termination benefits which include payment of redundancy Payment or loss or termination of employment is guided by section …

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Impact of the Tanzania Finance Act, 2024 to the Manufacturing sector

1.1 Alternative Minimum Tax Exemption to tea processing companies Change: Section 4(8) of the Income Tax Act, cap. 332 has …

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Impact of the Tanzania Finance Act, 2024 to Financial Institutions

1.1 Withholding Tax Exemption on Interest Payments Change: Section of 82 of the Income Tax Act has been amended to …

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Impact of the Tanzania Finance Act, 2024 to Construction Companies

1.1 Withholding Tax to apply on rental payments for the use of construction equipment or machinery Change: Section of 82 …

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Impact of the Tanzania Finance Act, 2024 to Mining Companies in Tanzania

1.1 Mineral right holders and the mineral dealers to set aside gold for processing Change: Section 59 of the Mining …

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Impact of the Tanzania Finance Act, 2024 to Non-Governmental Organizations (NGOs).

1.1 Inclusion of Health Services and Environmental Protection under charitable status Change: Section 64 of the Income Tax Act has …

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How to obtain Tanzania Investment Centre (TIC) Certificate of Incentives

Introduction The Tanzania Investment Centre grants Certificates of Incentives under authority conferred upon it by Part III, Section 17 (1-8) …

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FREE WEBINAR ON TAX IMPLICATIONS OF THE TANZANIA BUDGET 2024 – 2025

A FREE WEBINAR on tax implications of the Tanzania Budget for the year 2024 – 2025. Please click the link …

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IASB Issues IFRS 18 Presentation and Disclosure in Financial Statements

Introduction In April 2024, the International Accounting Standards Board (IASB) issued IFRS 18 Presentation and Disclosure in Financial Statements. IFRS …

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Implications of IFRS 17 for Insurers and Banks in Tanzania

By Straton Makundi  Introduction Tanzania adopted International Financial Reporting Standards (IFRS) effective from July 2004. Commercial sector entities including insurance …

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Tanzania Tax

Tax Implications of IFRS 17 for Insurers, Banks and the Government in Tanzania

By Straton Makundi   Introduction The International Accounting Standards Board (IASB) issued IFRS 17 Insurance Contracts which  is effective for …

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