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 […]
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 […]
CORPORATE SECRETARIAL LAW UPDATE: AMENDMENTS OF THE ZANZIBAR COMPANIES ACT NO. 15 OF 2013 REGARDING COMPANIES REGISTERED IN TANZANIA MAINLAND
A brief overview of the new legal requirements for foreign companies registered in Zanzibar. Summary of the amendment of the Zanzibar Companies Act enunciated in the Finance Act No. 3 of 2021. The legal implications on the new amendments on Foreign companies registered in Zanzibar 1.0 Introduction The Revolutionary Government of Zanzibar on the 24th June 2021 […]
BANKING AND FINANCE LAW UPDATE: THE BANK OF TANZANIA ISSUES POLICY MEASURES TO PROMOTE CREDIT TO THE PRIVATE SECTOR AND LOWER INTEREST RATES
Reduction of the Statutory Minimum Reserves (SMR) requirement. Relaxation of agent banking eligibility criteria. Limitation of interest rate paid on mobile money trust accounts. Introduction of a special loan to banks and other financial institutions. Reduction of risk weight on loans. 1.0 Introduction On 27th July 2021, the Bank of Tanzania (“BOT”) issued a public […]
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