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Tanzania Finance Act 2024 Published Containing Measures of the Budget for 2024/25.

11 July 2024

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Approved Changes

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Tanzania

Tanzania's Revenue Authority has published the Finance Act 2024, which was enacted by the president on 30 June 2024 following its passage in parliament on 26 June 2024. The Act contains the measures of the Budget for 2024/25, including: The elimination of the requirement to pay alternative minimum tax for tea processing companies that have generated losses for three consecutive years, limited to the period 1 July 2024 to 30 June 2027; The introduction of the requirement to use electronic (fiscal) receipts to verify purchases made in the relevant year of income that contributed to the production of income, with...