Breakthrough Attorneys has prepared this Article as a guide to businesses and service providers on the current limitations on foreign currency transactions in Tanzania.
FINANCE AND TAX LAW UPDATE: OVERVIEW OF THE TAX AND NON-TAX CHANGES FOR TANZANIA AS PER FINANCE ACT 2024
Fiscal receipt is a mandatory requirement for local purchases for income tax Rental of construction machinery and equipment attracts WHT at the rate of 10% Service of documents between the Commissioner General and Taxpayers by electronic means acceptable Admission of notices of objection made clearer Value of 1 currency point increased to TZS 20,000 Supply […]
REGULATORY AND COMPLIANCE UPDATE: A GUIDE TO INITIAL COMPLIANCE WITH TANZANIA’S DATA PROTECTION ACT
Tanzania launched the Personal Data Protection Commission (PDPC) to enforce the Personal Data Protection Act. Various sectors like telecom, finance, healthcare, and retail are impacted. Schools, NGOs, and religious organizations also need to comply. Businesses that collect customer personal data are likely data controllers and must register with PDPC by October 10th, 2024. You Might […]
INVESTMENT UPDATE: THINGS TO CONSIDER WHEN ACQUIRING A HOTEL BUSINESS IN ZANZIBAR
Investing in Zanzibar is highly commendable and certainly, lucrative. Investments in Zanzibar are channeled mainly through the guiding and regulating arm of Zanzibar Investment Promotion Authority(ZIPA). The likelihood is for the hotel business to be at the seafront,hence ZIPA does not have much land bank for this type of investment and therefore, investors are expected to purchase such lands from other private owners and submit such lands for investment redesignation and land lease certification.
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