Reduction of the Statutory Minimum Reserves (SMR) requirement to 6 percent Reduction of the discount rate to 5 percent Reduced haircuts on Government securities Regulatory flexibility ensured to Lenders who opt for loan payment rescheduling Increase of daily transaction and wallet size limits for mobile money limits Encouragement of Digital payment to curb the use […]
BREAKTHROUGH ATTORNEYS’ OVERVIEW OF THE TANZANIA’S BUDGET FOR THE FINANCIAL YEAR 2020/2021
1.0 Introduction 2.0 Fiscal Policies for 2020/21- Macroeconomic Policy Targets 3.0 Policy and Strategies to Increase Revenue for the year 2020/21 4.0 Expenditure Policies for the year 2020/21 5.0 Priority Areas for 2020/21 6.0 Reforms of the Tax Structure, Fees, Levies and other Revenue Measures 7.0 Budget Structure for the Year […]
LITIGATION LAW AND BANKING LAW UPDATE: THE LANDMARK COURT OF APPEAL DECISION THAT CURES THE SPOUSAL CONSENT CONONDRUM THAT HAUNTED ENFORCEMENT OF MORTGAGES IN TANZANIA.
(An exposé on the Hadija Arerary vs. Tanzania Postal Bank case) Big relief to banking institutions in Tanzania regarding spousal consent when undertaking a mortgage for a matrimonial property. Spouses should be more vigilant before mortgaging their matrimonial properties to avoid the possibility of losing them in event where they default payments. Wife claims […]
TAX LAW UPDATE: TANZANIA INTRODUCES A NEW REGULATION FOR AMNESTY ON INTERESTS AND PENALTIES; AN OVERVIEW OF THE TAX ADMINISTRATION REGULATIONS, 2020
Regulations to apply to persons assessed with interest or penalty under the Tax Administration Act or any Other Tax Law in Tanzania Applications to be submitted to the Commissioner General by a taxpayer or his representative Waiver of interests and penalties can be full or partially on overdue tax. Eligibility criteria to apply for the […]
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