Tanzania's Minister of Finance, Philip Mpango, presented the Budget for 2019/20 to the National Assembly on 13 June 2019. The Budget includes the following amendments to the Income Tax Act: An increase in the minimum amount of turnover required for taxpayers to file statutory certified financial accounts to the Tanzania Revenue Authority from TZS 20 million to TZS 100 million in order to reduce taxpayer costs and improve voluntary compliance; The extension of the presumptive tax regime for taxpayer's with annual turnover between TZS 4 million and TZS 100 million, with the amendment of the presumptive tax rate structure based...