Event report
Event Report | CFO Breakfast
Highlights from the FTCC CFO Breakfast on evolving tax rules and compliance expectations for companies in Tanzania.
The FTCC hosted a CFO Breakfast this morning, 27th of November, at the Slipway Hotel, bringing together Chief Financial Officers and senior finance executives for an in-depth discussion on Tanzania’s evolving fiscal and regulatory environment. The session offered a structured platform for members to exchange experiences, challenge interpretations, and gain clarity on several complex issues that will influence financial and strategic decision-making in 2025.
Led by Sekou KABA (AGL) and Susan KIYENZE (Maurel & Prom), the roundtable focused on practical case studies and recent administrative developments, enabling participants to better understand current expectations from the authorities and anticipate upcoming compliance requirements.
Key discussion highlights included:
• An in-depth review of the new treatment of retained earnings, including the provision allowing the TRA to deem 30% of undistributed profits as dividends after 12 months, resulting in a 10% withholding tax exposure.
• A focused exchange on transfer pricing and intercompany transactions, covering documentation standards, common audit findings, and approaches to reducing compliance risks.
• Practical examples shared by participants regarding the rejection of staff-related and hotel expenses, demonstrating the strict interpretation applied by the TRA under the “wholly and exclusively” principle.
• A presentation of the 2025 Business License Regulations for Non-Citizens (GN No. 487A), clarifying the activities concerned, eligibility criteria, procedural requirements, and compliance implications for foreign nationals.
The FTCC extends its appreciation to all participants for their active engagement and constructive contributions. The Chamber remains committed to facilitating technical discussions within its business community and to supporting members as the regulatory landscape continues to evolve.
