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March 28, 2022 By Breakthrough Attorneys

COMPANY LAW UPDATE: WHAT YOU SHOULD KNOW ABOUT BENEFICIAL OWNERSHIP IN TANZANIA.

As part of the efforts to developing Tanzania in business and investment, but also as a means of prevention and detection of corruption and money laundering, the Government of the United Republic of Tanzania has adopted the concept of Beneficial Ownership as a mechanism to deal with among other things the issues forementioned. One of the mechanisms so adopted to curb and keep tag on the forementioned matters is imposing a Beneficial Ownership reporting. Beneficial Ownership Reporting is meant to reveal the persons termed as beneficial owners behind companies registered in the United Republic of Tanzania.

March 28, 2022

March 9, 2022 By Breakthrough Attorneys

BANKING AND FINANCE LAW UPDATE: LICENSING OF MICROFINANCE SERVICE PROVIDERS (MSPs) IN TANZANIA AND IMPLICATIONS FOR OPERATING WITHOUT REQUIRED LICENSE.

The Microfinance Act No. 10 of 2018 (“The Microfinance Act”) requires all microfinance service providers to obtain license to operate as such from the Bank of Tanzania (“BOT”) or any other regulatory body delegated by the BOT to issue such license. This requirement extends to the microfinance service providers who were operating before enactment of the Microfinance Act

March 9, 2022

February 11, 2022 By Breakthrough Attorneys

TAX LAW UPDATE: PROCEDURES FOR VAT EXEMPTION IN TANZANIA UNDER THE NEW VALUE ADDED TAX (EXEMPTION MANAGEMENT PROCEDURES) REGULATIONS, 2021

The scope of value added tax exemption. Procedures for application for tax VAT exemption under the Regulations. Involvement of the Ministries in the exemption process. Who shall grant the exemption of value added tax under the new law? Powers of the Commissioner General in the processing of exemption. Post VAT exemption requirements and procedures. 1.0 […]

February 11, 2022

January 18, 2022 By Breakthrough Attorneys

COMPANY LAW UPDATE: EXTENSION OF TIME FOR REGISTRATION OF COMPANY’S BENEFICIAL OWNERS INFORMATION.

Enforcement the Companies (Beneficial Ownership) Regulations, 2021 Defining the beneficial owner Mandatory registration of Beneficial Owners by Companies in Tanzania Timeline for registration of Beneficial Owners Time extension for registration of Beneficial Owners’s information 1.0 Introduction As part of the efforts to developing Tanzania in business and investment, but also as a means to regulate corruption […]

January 18, 2022

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Popular Articles Posts

  • NEW REGULATIONS ON WORK PERMITS IN TANZANIA posted on May 15, 2017 | under Articles
  • COMPANY VOLUNTARY WINDING UP: LAW AND PROCEDURE IN TANZANIA posted on March 8, 2017 | under Articles
  • UPDATE ON TANZANIA SUCCESSION LAW: PROBATE AND ADMINISTRATION OF ESTATES LAW: PROTECTION OF BONAFIDE PURCHASER OF A PROBATED ASSET IN TANZANIA posted on December 10, 2018 | under Articles
  • LITIGATION LAW UPDATE: WHAT LITIGANTS SHOULD KNOW REGARDING THE RECENT AMENDMENTS TO THE TANZANIA CIVIL PROCEDURE CODE, CAP. 33 R.E. 2002; VOLUME I. posted on June 29, 2019 | under Articles
  • BREAKTHROUGH ATTORNEYS’ OVERVIEW OF THE TANZANIA’S BUDGET FOR THE FINANCIAL YEAR 2020/2021 posted on June 23, 2020 | under Articles

Popular News Posts

  • TANZANIA SOCIAL SECURITY LAW UPDATE: THE GOVERNMENT INTRODUCES A BILL FOR MERGER OF EXISTING SOCIAL SECURITY SCHEMES IN TANZANIA. posted on November 23, 2017 | under News
  • NEWS UPDATE: THE OFFICE OF THE ATTORNEY GENERAL IN TANZANIA UNDERGOES RESTRUCTURING posted on March 7, 2018 | under News
  • Cybercrimes Act 2015 Tanzania: The Challenge in the Hands of Both Corporates and Individuals posted on May 9, 2015 | under News, Recent News
  • A Quick Look Into Regulatory System in Mergers and Acquisitions In Tanzania posted on January 29, 2016 | under News
  • A Quick Look Into Intellectual Property Law in Tanzania posted on April 28, 2016 | under News

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Breakthrough Attorneys
T: +255 222 603 002
F: +255 222 603 001
M: +255 784 763 933
E: info@breakthroughattorneys.co.tz

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66 BTA House, Plot No. 331/00
Msasani Road, Oysterbay,
Opposite United Nations, Umoja House,
P.O. Box 72838
Dar es Salaam, Tanzania
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Breakthrough Attorneys is an ultramodern legal practice based in Dar es Salaam, Tanzania having a spectrum of cross-borders practices that caters for local and multinational corporations, financial institutions, government entities as well as business private individuals concerning their legal needs around the globe.
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