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Tanzania Publishes Finance Act 2019

28 August 2019

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Approved Changes

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Tanzania

The Tanzania Revenue Authority has published the Finance Act 2019, which was enacted on 30 June 2019. The measures of the Act include: 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 on turnover as follows: up to TZS 4 million: Nil over TZS 4 million up to TZS 7 million: 3% if record/documentation maintenance requirements are met; otherwise, TZS 100,000 over TZS 7 million up to TZS 11 million: TZS 90,000 plus 3% of turnover in excess of...