Our Tax Department at Breakthrough Attorneys has prepared this general overview of the budget for the financial year 2022/2023 highlighting the estimates of the Government’s revenue and expenditure for 2022/2023.
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 […]
REGULATORY AND COMPLIANCE LAW UPDATE: THINGS YOU SHOULD KNOW WHEN BUYING AND EXPORTING CASHEWNUT FROM TANZANIA
The Tanzanian economy is well known to be dependent on the Agriculture sector. Tanzania is well known to be among the leading Cashewnut producers in Africa. Areas known predominantly for Cashewnut cultivation include the southern coastal regions of the country, near the towns of Mtwara, Kilwa and Dar es Salaam. The Cashewnut Board of Tanzania (CBT) is entrusted with the responsibility of regulating the development of the Cashew Industry in Tanzania. In undertaking its mandated roles the CBT puts more emphasis in improving efficiency and effectiveness in the Cashewnut sub sector in order to meet requirements of different stakeholders thereby enabling them to contribute to the national development. The Board is established under section 3 of the Cashewnut Industry Act No.18 of 2009.
NGOs PRACTICE AND TAX LAW UPDATE: TAXATION OF NGOs IN TANZANIA
There is an assumption that Non-Governmental Organizations (NGOs) are tax free entities due to their nature of work. NGOs are known to promote righteous causes to targeted groups in the community.
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