Meaning of stamp duty Brief discussion of provisions of the Stamp Duty Act R.E 2006 (“the Stamp Duty Act”) that require instruments to be charged with stamp duty List of instruments that are chargeable with stamp duty Consequences of not complying with the Stamp Duty Act (Among other consequences, the instrument may not be admitted […]
TAX UPDATE: TANZANIA REVENUE AUTHORITY (TRA) STARTS RECEIVING APPLICATIONS FOR TAX AMNESTY.
Tax Amnesty waives 100% of interests and penalties on overdue taxes Applications to be lodged to the Commissioner General (TRA)on or before 30th November, 2018 Application(s) must be made by a taxpayer or a legally appointed representative Amnesty is granted to the eligible taxpayers and on eligible taxes 1.0 Introduction The Minister for Finance and […]
BREAKTHROUGH ATTORNEYS’ OVERVIEW OF THE TANZANIA’S BUDGET FOR THE FINANCIAL YEAR 2018/2019.
1.0 Introduction. 2.0 Fiscal Policies for 2018/19. 3.0 Policy and Strategies to Increase Revenue for the year 2018/19. 4.0 Expenditure Policies for the year 2018/19. 5.0 Priority Areas for 2018/2019. 6.0 Reforms of the Tax Structure, Fees, Levies and other Revenue Measures. 7.0 Budget Structure for the Year 2018/19. 8.0 Conclusion. 1.0 Introduction On […]
BANKING AND FINANCE LAW UPDATE: ELECTRONIC CLEARANCE OF CHEQUES (BILLS OF EXCHANGE) UNDER THE TANZANIA AUTOMATED CLEARING HOUSE RULES, 2015.
The Rules replace manual clearance and introduce electronic clearance of bills of exchange. Time for clearance of bills of exchange reduced to one day. The roles of the Clearing and Collecting Banks vis-à-vis the drawers and beneficiaries. 1.0 Introduction A bill of exchange is defined under Section 3 (1) of the Bills of Exchange Act, […]
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