LENDERS OKAYED TO IMPOUND PERSONAL ASSESTS OF DEFAULTING BORROWERS
LENDERS OKAYED TO IMPOUND PERSONAL ASSESTS OF DEFAULTING BORROWERS The court has reaffirmed its position in shelving the rule on Non-Recourse Loan as the Court of Appeal of Tanzania gives a go ahead for Lenders to impound personal assets [...]
ZANZIBAR REVENUE AUTHORITY: A NEW DIMENSION ON TAX ADMINISTRATION AND COLLECTION IN ZANZIBAR
ZANZIBAR REVENUE AUTHORITY: A NEW DIMENSION ON TAX ADMINISTRATION AND COLLECTION IN ZANZIBAR The vision of the President of Zanzibar His Excellence Dr. Hussein Mwinyi is to take Zanzibar to the blue economy. A friendly fiscal regime, fair and [...]
Licensing of Tax Consultants – A clog/fetter to taxpayer’s right to representation?
Licensing of Tax Consultants - A clog/fetter to taxpayer’s right to representation? The Finance Act, 2022 (the FA, 2022) has introduced a requirement that tax consultants should be licensed in addition to being registered by the Commissioner General of [...]
Electronic Money Transactions Levy: Banks, Financial Institutions and Electronic Money Issuer Guide.
Electronic Money Transactions Levy: Banks, Financial Institutions and Electronic Money Issuer Guide. The Finance Act, 2022 amended the National Payment Systems Act, 2015 (NPSA) and introduced a levy on electronic money transaction (the Levy). The amendment came along with [...]
Finance Act 2022: A move to widen tax base.
Finance Act 2022: A move to widen tax base. The Finance Act, 2022 (FA) became operation on 1st July 2022. In our view, the objective of the parliament has been to widen tax base. What has been left out [...]
A SIGH OF RELIEF FOR FINANCIAL INSTITUTIONS AS RESTRICTIONS ON RECOVERY LIFTED.
A sigh of relief for financial institutions as restrictions on recovery lifted. The Court of Appeal recently in the case of CRDB Bank Plc versus True Colour Limited and Another, Civil Appeal No 29 of 2019 overruled the position [...]
SIX MONTHS RULE ON OBJECTION DETERMINATION: PRACTICES AND EXPERIENCE
SIX MONTHS RULE ON OBJECTION DETERMINATION: PRACTICES AND EXPERIENCE Hitherto 2020, the Commissioner General (the Commissioner) of the Tanzania Revenue Authority (TRA) could take years to determine a taxpayer’s objection to a tax assessment or decision. Indeed, this posed [...]
A PRICE INSURANCE COMPANIES CAN PAY FOR FAILURE TO MANAGE/MONITOR INSURANCE TRANSACTION(S) CONDUCTED BY INSURANCE BROKERS.
A Price Insurance Companies Can Pay For Failure To Manage/Monitor Insurance Transaction(S) Conducted By Insurance Brokers. According to the Insurance Act, actions of an agent in the insurance business binds the insurer. This is because an insurance agent sales [...]
THE LABOUR COURT SEALS REMEDIES FOR TERMINATION ON FIXED TERM CONTRACTS
THE LABOUR COURT SEALS REMEDIES FOR TERMINATION OF FIXED TERM CONTRACTS When an employer-employee relationship terminates, the last hope for the employee is terminal benefits. Payment of terminal benefits depends on the nature/ type of the contract of employment [...]
Fate of Mainland Companies Operating in Zanzibar Under Certificates of Compliance/Branches of Foreign Companies.
Fate of Mainland Companies Operating in Zanzibar Under Certificates of Compliance/Branches of Foreign Companies. The “Blue Economy” is a dominant theme to the current Revolutionary Government of Zanzibar. A lot is being done to ensure full participation of indignant [...]