FINANCE AND TAX LAW UPDATE: OVERVIEW OF THE THE FINANCE ACT, 2022 AMENDMENTS AND ITS IMPLICATION TO BUSINESS AND INVESTMENT IN TANZANIA.
July 19, 2022
Introduction of Digital Services Tax Exemption of withholding tax from interest paid to holders of corporate and municipal bonds Tax credit for business or investment operating in both Mainland Tanzania and Zanzibar Introduction of a standard rate of tax on presumptive income Introduction of amicable settlement in tax disputes Introduction of mandatory issuance of taxpayer […]
Read MoreFINANCE LAW UPDATE: BREAKTHROUGH ATTORNEYS’ OVERVIEW OF THE TANZANIA’S BUDGET FOR THE FINANCIAL YEAR 2022/2023.
June 22, 2022
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.
Read MoreBANKING AND FINANCE LAW UPDATE: RESTATING THE STANDARDS OF GOOD CORPORATE GOVERNANCE PRACTICE FOR BANKS AND FINANCIAL INSTITUTIONS IN TANZANIA UNDER THE BANKING AND FINANCIAL INSTITUTIONS (CORPORATE GOVERNANCE) REGULATIONS 2021.
May 23, 2022
Recently, the Bank of Tanzania has enacted new regulations on corporate governance for banks and financial institutions. The newly imposed regulations, Banking and Financial Institution (Corporate Governance) Regulations, 2021 (“the Corporate Governance Regulations”) were published on 29th October, 2021. The Corporate Governance Regulations set standards for corporate governance and structures of banks and financial institutions. It provides guidance to board of directors, directors and senior management of banks and financial institutions for proper discharge of their responsibilities.
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