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 […]
FINANCE LAW UPDATE: BREAKTHROUGH ATTORNEYS’ OVERVIEW OF THE TANZANIA’S BUDGET FOR THE FINANCIAL YEAR 2022/2023.
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.
BANKING 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.
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.
BUSINESS LAW UPDATE: THE BUSINESS AND REGULATORY ENVIRONMENT FOR RIDE-HAILING TAXI SERVICES IN TANZANIA
Ride-hailing services in Tanzania are regulated by a government regulatory authority known as the Land Transport Regulatory Authority (LATRA) established under section 4 of the Land Transport Regulatory Authority Act No. 3 of 2019. LATRA was established to regulate the land transportation activities in the country such as transportation of goods and passengers; railways, and cable transport; to regulate transportation charges and rates; to issue, renew and cancel permits or licenses; and to coordinate land transport safety activities, just to name a few.
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