Tax and legal update | Tanzania Tax Datacard 2024/2025 and Tax Alert Notification Requirement for VAT
Tanzania Tax datacard 2024/2025 and Tax Alert Notification Requirement for VAT
Our Tanzanite member, PwC, has published its updated tax datacard 2024/2025. They also published a newsletter on Notification Requirement for VAT.
This tax datacard provides an overview of the main taxes applicable in Tanzania including tax rates, tax depreciation rates, filing obligations, and the basis for interest and penalties.
The Finance Act, 2024 (FA 2024) introduced a requirement for persons who are registered for Value Added Tax (VAT) as intending traders to notify the Commissioner General of Tanzania Revenue Authority (TRA) if they fail to meet the required conditions, which includes the date to start making taxable supplies as stated in the registration application.
This newsletter summarises the introduced notification requirement, implications thereon as well as practical challenges that intending traders may face in obtaining VAT refunds during the pre production period.
Tanzania Tax datacard 2024/2025.
Tax Alert Notification Requirement for VAT