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 […]
REGULATORY AND COMPLIANCE LAW UPDATE: THINGS YOU SHOULD KNOW WHEN BUYING AND EXPORTING CASHEWNUT FROM TANZANIA
The Tanzanian economy is well known to be dependent on the Agriculture sector. Tanzania is well known to be among the leading Cashewnut producers in Africa. Areas known predominantly for Cashewnut cultivation include the southern coastal regions of the country, near the towns of Mtwara, Kilwa and Dar es Salaam. The Cashewnut Board of Tanzania (CBT) is entrusted with the responsibility of regulating the development of the Cashew Industry in Tanzania. In undertaking its mandated roles the CBT puts more emphasis in improving efficiency and effectiveness in the Cashewnut sub sector in order to meet requirements of different stakeholders thereby enabling them to contribute to the national development. The Board is established under section 3 of the Cashewnut Industry Act No.18 of 2009.
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 […]
TAX LAW UPDATE: TAX REFUNDS IN TANZANIA; THE PRACTICE AND PROCEDURE FOR REFUND OF TAXES PAID IN EXCESS
Taxpayer’s eligibility to refund of tax paid in excess. The mode of making the application for a refund. Limitation period within which to make an application. Timelines for the Commissioner General to make his final decisions. The procedure for payment of the refund to the taxpayer. VAT refund. Power of the Commissioner General to offset […]