Burhani Associates & Co is pleased to present a briefing of the Tanzania Finance Act 2024. Our briefing includes notes on amendments to VAT, the Income Tax Act, the Mining Act, the Excise Management and Tariff Act and other amendments.
Tanzania Finance Act 2024 Read More »
Did you know that 25% of the budget has been allocated development and the 75% allocated to recurrent expenditure?
2024 – 2025 Tanzania National Budget Summarised Read More »
This Article is an update after the release of the Finance Act 2023 and it summarizes some of the major changes of the Finance Act, 2023 that came into force and operation as of 01st July 2023.
The Finance Act 2023 Read More »
The Honorable Minister of Finance presented Tanzania’s Economic updates, Government budget and Tax reforms for the 2023/24-year fiscal year on Thursday, 15 June 2023. The Budget has been set at Tsh 44.39 trillion which is a 7% increase from prior year’s Tsh 41.48 trillion. Our recent article provides an insight on how our economy has
Tanzania Budget 2023-24 -Highlights Read More »
The Tanzania Revenue Authority (TRA) has recently introduced an upgraded electronic tax system in order to enhance the user experience and integration of all systems into single e-filing system. The new electronic tax system is effective from February 2023. Download guidance here:
Upgraded Electronic Tax Systems Read More »
The government of Tanzania has through the Government Notice No. 687 of 25th November 2022 decreed minimum wage for the private sector which is to be enforced with effect from January 1, 2023. The regulations apply to all private sector employees and repeals the Minimum Wage Regulations for the private sector of 2013.
Minimum Wage Regulations No. 45 of 2022 Read More »
As per Section 45A of the Tax Administration Act, 2015 as amended by The Finance Act, 2022, any person who establishes a storage facility with the aim of keeping goods for business purposes is required to register such facility with the Commissioner General. Burhani Associates & Co provides details on these requirements and the relevant
New Storage Facility Requirements Read More »
TRA has rolled out an upgraded system for VAT electronic filing as part of its recent push to leverage technology and to enhance the tax compliance. The following are the additional guidelines issued by TRA to enhance the understanding of the users and the public at large.
Guidance on the usage of invoices under the upgraded VAT return e-filing system Read More »
We refer to the public notice issued by TRA on 3rd February 2022 and wish to inform all VAT registered traders that TRA has upgraded its electronic system for filing of VAT returns which will be effective from 1st March 2022 and therefore it shall become operational from the VAT returns for March 2022 that
Introduction of Upgraded VAT Electronic Filing System Read More »
An intangible asset is defined under International Financial Reporting Standards (IFRS®) as an identifiable, non-monetary asset without physical substance. Intangible assets are identified separately on a company’s financial statements, and come in two primary forms: Legal intangibles and competitive intangibles. Our recent article written by Irfan Ismail Sadik – available for download here – explores
Accounting Intangible Assets Read More »
