Commencement 2. This Act may be cited as the Finance Act, 2018. 4 of 2012.] 0000002612 00000 n 10 OF 2018 I ASSENT JOHN POMBE JOSEPH MAGUFULI President [21st November, 2018] An Act to provide for the licensing, regulation and supervision of microfinance … 1 0 obj Executive summary. This Act may be cited as the Non-Governmental Organizations Act, 2002 and shall come into operation on such date as the Minister may, by notice published in the Gazette, appoint. H�\�_k�@��|�ylJ4s�� importance of the Finance Act 2019. 0000008454 00000 n @~ (* {d+��}�G�͋љ���ς�}W�L��$�cGD2�Q���Z4 E@�@����� �A(�q`1���D ������`'�u�4�6pt�c�48.��`�R0��)� THE FINANCE (NO. legislation. Section 12 of the Finance Act 2018, mandates the Central Bank to license, regulate and supervise microfinance business in Tanzania Mainland. 76 0 obj <>stream 7. This Act shall apply in respect of all local government authorities established under the Local Government (District Authorities) Act and the Local Government Act No. %PDF-1.7 0000080795 00000 n 0000007501 00000 n 2 Finance Act2019 2019 1. the President on November 7, 2019. 0000089699 00000 n Interpretation 0000011418 00000 n 10 of 2010, Act No. endstream endobj 43 0 obj <> endobj 44 0 obj <>stream �MFk����� t,:��.FW������8���c�1�L&���ӎ9�ƌa��X�:�� �r�bl1� No. Full Act. 290 The Local Government Finance Act, CAP 290, The Public Finance Act, CAP 348, and The Bank of Tanzania Act, Cap 197 to be amended to introduce a Treasury Single Account which will be used for collection and payment of Government funds, in Amendment of section 99A of Finance Act 1999 (relief for qualifying road transport operators) 43. ENACTED by Parliament of the United Republic of Tanzania. �@���R�t C���X��CP�%CBH@�R����f�[�(t� C��Qh�z#0 ��Z�l�`O8�����28.����p|�O×�X 6 R.E 2019. Finance Act 2019 11 Indirect Taxes Key measures Special Levy on banks —The special levy imposed on banks having net operating income exceeding MUR1.2 Billion in a year have been increased from 4% to 4.5%. of 1982. ENACTED by the Parliament of the United Republic of Tanzania. PART II INCO.\!I' Tn Amendments ro Chapler f of Finance Act [Chapter 23:0-+1 2 Amendment of section 14 of Cap. Short title and com-mence-ment lnterpreta-2. Act to bind the Govern-ment 3. 3 0 obj Finance Bill 2019 Update PwC insight and analysis This newsletter is an update on our bulletin of 14 June 2019 on the Budget Speech. 1998 amendment of the pools and lotteries part viii part ix act 1967 amendment of the road tolls act, 1985 amendment of the stamp duty act. This Alert is based on the Finance Act, 2019 which includes numerous amendments of tax and other non-tax laws. The Finance Act contains several long-awaited changes to the tax framework which seek to address issues of low tax revenue growth, such as an increase in the VAT rate to 7.5% 0000001276 00000 n <<97BC47A7B078014885922ADAAC3CF0BD>]/Prev 122022>> 0000003882 00000 n PART I PRELIMINARY PROVISIONS'' 1. TANZANIA FINANCE ACT 2020 . 0000003917 00000 n 0000093550 00000 n Under this amendment, the following are exempt from income tax; • Income of the National Housing Development Fund. 0000089062 00000 n The Finance Act is the first of its kind in over two decades and is intended to support the funding of the 2020 budget. By mohamed sesay on September 24, 2019 in Acts, Economic Publications, Public Notices. Enacted provisions: The Act introduces new provisions under the First schedule to the ITA. 0000001842 00000 n This Act may be cited as the Finance Act, 2016. 0000002746 00000 n ENACTED by the Parliament of the United Republic of Tanzania. Finance Act,2019 analysis . 0000073129 00000 n 10 Microfinance Act 2018 6 THE UNITED REPUBLIC OF TANZANIA NO. TANZANIA FINANCE ACT 2020 . 0000081074 00000 n Following the tabling of the Annual budget for the financial year 2019/2020 before the parliament on 13 th June, 2019, the parliament passed the Finance Act, 2019. 1982 amendment of the mining act. A more detailed analysis, 0000002475 00000 n ?���:��0�FB�x$ !���i@ڐ���H���[EE1PL���⢖�V�6��QP��>�U�(j The Finance Act 2019 has finally been gazetted more than four months after the start of the Financial year 2019/2020. Finance Pravind K. Jugnauth before the Mauritian National Assembly on 16 June 2019. endobj [2019.] Download: <>stream In this Act, unless the context requires otherwise- 0000000016 00000 n 0000014067 00000 n The provisions of the Finance Act, 2019, unless noted otherwise, became effective on 1EY’s new Tax News Update: Global July 2019. 0000004598 00000 n 0000004030 00000 n 0000008722 00000 n *1 J�� "6DTpDQ��2(���C��"��Q��D�qp�Id�y�͛��~k����g�}ֺ ����LX ��X��ň��g`� l �p��B�F�|،l���� ��*�?�� ����Y"1 P������\�8=W�%�Oɘ�4M�0J�"Y�2V�s�,[|��e9�2��s��e���'�9���`���2�&c�tI�@�o�|N6 (��.�sSdl-c�(2�-�y �H�_��/X������Z.$��&\S�������M���07�#�1ؙY�r f��Yym�";�8980m-m�(�]����v�^��D���W~� ��e����mi ]�P����`/ ���u}q�|^R��,g+���\K�k)/����C_|�R����ax�8�t1C^7nfz�D����p�柇��u�$��/�ED˦L L��[���B�@�������ٹ����ЖX�! This Act shall apply to Tanzania Mainland as well as Tanzania Zanzibar. 7. 290 R.E. On 30 June 2019, the Tanzanian Government published the Finance Act, 2019 in the Official Government Gazette. 2019. Introduction. 2 No. 1972 amendment of the tanzania revenue part x part xi part xii authority act, 1995 part xiii amendment of the value added tax act. The National Assembly made significant changes to the provisions of the Finance Bill, 2019 before it was passed into law. endobj It become operative on 01 st July 2019. finances of the United Republic and for enhancing Parlia-mentary control and supervision of public funds and re-sources, and for related matters. Under this amendment, the following are exempt from income tax; • Income of the National Housing Development Fund. 19 of 2006, L.N. On 30 June 2019, the Tanzanian Government published the Finance Act, 2019 in the Official Government Gazette. Further, the Bank continued to regulate and supervise financial matters of the social security schemes using powers stipulated under Social Security (Regulatory Authority) Act (Cap 135). This Act may be cited as the Finance Act, 2016. 8 (Urban Authorities) Act. 23:04 Section 1-+ ("Income ta" for periods of assessment after 1.-1..88") of the Finance Act [ChapTer 23:041 is amended-(a) in subsection (l) by the insertion of the following definition-- under the Bank of Tanzania Act 2006, the Banking and Financial Institutions Act, 2006, the Foreign Exchange Act, 1992 and the Microfinance Act, 2018. This Act may be cited as the Finance Act, 2018. %���� [NO. PART I – PRELIMINARY 1. 0000011034 00000 n Full Act. Both Acts give effect to the measures announced in Budget Speech Acts Nos: 11 of 2004 15 of 2004 13 of 2005 6 of 2006 [1 st July, 2004] s.1 PART I PRELIMINARY Short title 1. Further to our newsletter circulated after the budget speech, we would like to take this opportunity to inform you of some significant changes in the Finance Act 2019 which were not included in the Budget Speech read by the Honorable Minister of Finance on 13 June 2019 and/or the Finance Bill. 0000002299 00000 n 0000093668 00000 n ;���j��/�r`�ʬ�����+��y��c�!�2�"�1'L鹗�^~ɼD.�d�쑅Y�i�y�. 147), The Income Tax Act … 419 (contd.) This Act was published in a Government Gazette Extraordinary dated 20th February 2019 [see General Notice 298A/2019]. [ ] ENACTED by the Parliament of the United Republic of Tanzania. The provisions of the Finance Act, 2019, unless noted otherwise, became effective on 1 July 2019. {{{;�}�#�tp�8_\. 0000014231 00000 n 0000009988 00000 n 23 of 2015 s.29 7 of 2- 17 Ss,4 11 Cap.4 s.8 4.-(1) In this Act, unless the context otherwise requires- "authorized officer" means the Commissioner, Chief 0000010386 00000 n MFIs have interest rates in credits from 3 to 20 percent which is equivalent to between 36 and 240 percent annually due to lack of transparency of conditions in loans contracts. (1) This Act may be called the Finance (No. This Act shall apply to Tanzania Mainland. 28 49 Evidence Act, Cap. Application 2. 23 OF 2019 [1st August, 2019.] —However, where a bank has been in operation as at 30 June 2018 a cap has been This newsletter summarises changes introduced by the Act. Tanzania Finance Bill 2019 Updates Following our budget highlights published on June 14, 2019, this update sets out a high level summary of the changes and clarifications contained in the Finance Bill 2019, which may have not been included in the Budget Speech read by the Minister of Finance and Planning. (finances) act. Disapplication to petroleum 3. PART I PRELIMINARY PROVISIONS'' 1. 0000054241 00000 n An Act to make provision for sources of revenue and the management of funds and resources of local government authorities and for matters connected or incidental to securing the proper collection and sound management of finances in the local government sy The Finance Act, 2019 amends nine laws namely; The Airport Service Charge Act (Cap. An act to impose and alter certain taxes, duties, levies, fees and to amend certain written Laws relating to the collection and management of revenues. 45.] THE UNITED REPUBLIC OF TANZANIA ACT SUPPLEMENT No. 2. � +�g���SC1�����@�``����X��oB�� XhX� No. The Finance Act 2019. BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY 1. 0000007929 00000 n An Act of Parliament to make provision for the licensing, regulation and supervision of microfinance business and for connected purposes [Act No. x���wTS��Ͻ7�P����khRH �H�. 1997 0000005491 00000 n 1 of 2019. 100 dated 20thr September, 2019 Printed by the Government Printer, Dodoma by Order of Government THE e-GOVERNMENT ACT, 2019 ARRANGEMENT OF SECTIONS Section Title Late payment interest – Bank of Tanzania (BoT) lending rate at the beginning of the calendar year plus five per cent General / Commencement The Finance (Public Revenue Management) Act 2019 of Zanzibar (“the Act”) was assented on 28 June 2019 and is effective from 1 July 2019. 0000004869 00000 n [/ICCBased 3 0 R] This Act may be cited as the Income Tax Act, 2004. 3. Commencement 2. 0000065060 00000 n Local Government Finance Act, Cap. An Act to impose and alter certain taxes, duties, levies, fees and to amend certain written laws relating to the collection and management of public revenues. This Act may be cited as the Local Government Finances Act. 0000004166 00000 n Tags: Acts; Finance Act 2019; Download File : Finance Act 2019 - Act 2019-01.pdf. 40. In the intervening period, the fiscal environment has remained volatile with the Kenya Revenue Authority reporting lower than expected first quarter revenue collections and the government now embarking on budget rationalization. [Omitted]. 0 It summarises additional points arising from our review of the Finance Bill 2019 (“the Bill”). An Act to declare the law of evidence. 10 20th September, 2019 To the Gazette of the United Republic of Tanzania No.39 Vol. Unless otherwise provided, this Act shall be deemed to come into operation on the 1st day of January, 2019 PART 1-PROVISIONS RELATING TO REVENUE THE CUSTOMS TARIFF ACT, 1978 2. 1997 Late payment interest – Bank of Tanzania (BoT) lending rate at the beginning of the calendar year plus five per cent General / Commencement The Finance (Public Revenue Management) Act 2019 of Zanzibar (“the Act”) was assented on 28 June 2019 and is effective from 1 July 2019. This Alert is based on the Finance Act, 2019 which includes numerous amendments of tax and other non-tax laws.This Alert outlines the key tax amendments. Enacted provisions: The Act introduces new provisions under the First schedule to the ITA. The Tanzania New Arbitration Act now Effective 11 March 2021 - 5:29 pm; New Law Imposes Stricter Regulations of Online Content in Tanzania 1 August 2020 - 6:05 pm; The Finance Act, 2020: The New Era of Business Transparency 9 July 2020 - 4:57 pm TANZANIA FINANCE ACT 2019 UPDATE. 0000024284 00000 n PART I PRELIMINARY PROVISIONS 1. Amendment of Chapter 1 of Part 2 of Finance Act 1999 (mineral oil tax) 42. legislation. 0000040906 00000 n • Income earned by an individual who is registered under the Ajira Digital Program for three years An Act to impose and alter certain taxes, duties, levies, fees and to amend certain written laws relating to the collection and management of public revenues. 2 0 obj 8 of 2009, Act No. Read the Finance Act 2019 Nigeria • Income earned by an individual who is registered under the Ajira Digital Program for three years 0000023652 00000 n 0000089335 00000 n startxref The Local Government Finance Act, CAP. 2 (g) Tax Identification Number, if such a number has been issued to that person; (h) where the customer is a student, the student’s identity card and an introductory letter from the Short title This Act may be cited as the Microfinance Act. 0000009263 00000 n Finance Act No.8 of 2019. In December 2018 the Bank of Tanzania (BOT) issued a publicnotice (the Notice) stating that it is 0000093422 00000 n 2. This Act maybe cited as the Public Finance Act, 2001, and shall come into operation on such date as the Minister may, by notice pub-lished in the Gazette, appoint. —However, where a bank has … Interpretation Acts Nos. Further to our newsletter circulated on 11 June 2020 after the budget speech, we would like to take this opportunity to inform you of some significant changes in the Finance Act 2020 passed by the Parliament on 18 June 2020. 0000010651 00000 n 0000004141 00000 n ENACTED by Parliament of the United Republic of Tanzania. 0000001658 00000 n On 30 June 2019, the Tanzanian Government published the Finance Act, 2019 in the Official Government Gazette.The provisions of the Finance Act, 2019, unless noted otherwise, became effective on 1 July 2019.. Anti-Money Laundering (Amendment) GN. PART I PRELIMINARY PROVISIONS Short title 1. This Act binds the Government of the United Republic. Finance Act,2019 analysis . h�b```b``������-� Ȁ �@16� �q5�8���P�!��0q��]o�����7y8�WT�a3kPD�N��mJ� A��i��&())�t� ������KG�v��1?-���* ``\�H��XD���9�������w���c�c����Z����/��Pp�k�>�����9AL8N�2�1Z5�:�30���� 0000023945 00000 n Finance Act 2019 11 Indirect Taxes Key measures Special Levy on banks —The special levy imposed on banks having net operating income exceeding MUR1.2 Billion in a year have been increased from 4% to 4.5%. endstream endobj 29 0 obj <>>>/Lang(en-GB)/Metadata 26 0 R/Outlines 24 0 R/Pages 25 0 R/Type/Catalog/ViewerPreferences<>>> endobj 30 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/Tabs/W/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 31 0 obj [32 0 R 33 0 R 34 0 R] endobj 32 0 obj <>/Border[0 0 0]/H/N/Rect[169.732 307.978 188.976 294.931]/Subtype/Link/Type/Annot>> endobj 33 0 obj <>/Border[0 0 0]/H/N/Rect[123.573 277.978 184.205 264.931]/Subtype/Link/Type/Annot>> endobj 34 0 obj <>/Border[0 0 0]/H/N/Rect[36.0 264.978 90.9244 251.931]/Subtype/Link/Type/Annot>> endobj 35 0 obj <> endobj 36 0 obj <> endobj 37 0 obj <> endobj 38 0 obj [/ICCBased 56 0 R] endobj 39 0 obj <> endobj 40 0 obj <> endobj 41 0 obj [61 0 R] endobj 42 0 obj <>stream This newsletter summarises changes introduced by the Act. (finances) act. 1982 amendment of the mining act. 0000081438 00000 n %PDF-1.7 %���� A�ڂ��u��d������;'�ta͑d��80ɷ�ݾk'����'wj�f���6�����eᚶ�>�Ϳ���ܯS��S�������i���M��c���8���=��]~� �G��nr�^�&�Ҡo��D��˞�M��N�������Ct��IL�7�:Tu���r�>kW���:�]��}. 0000014136 00000 n Search form. Finance Act 2019. 2) ACT, 2019 NO. Tax Alert June 2019 Finance Act, 2019 - Act No. On 30 June 2019, the Tanzanian Government published the Finance Act, 2019 in the Official Government Gazette.The provisions of the Finance Act, 2019, unless noted otherwise, became effective on 1 July 2019.. 1972 amendment of the tanzania revenue part x part xi part xii authority act, 1995 part xiii amendment of the value added tax act. PART I PRELIMINARY PROVISIONS Short title 1. Interpretati on 3. Tanzania Budget ighlights 019/20 Our budget highlights present a brief description of the main tax and related regulatory changes contained in the 2019/20 Budget speech as presented by the Minister of Finance and Planning, Dr. Philip Mpango. xref H�\�_k�0���y\��j҂�����0�`�k'��}��/�H(�ȹ��KNXTe�����v�5M����4w+�]���`3��i%��}c����8Q_�v����r��̞Nj��&߬"��{�*� �1?ԓ�X��)j]��Ƽ6=�Зm+��i�?��l�Şw0#E�i$�F�(�"wr�]�����}|Dٵ�ߍ��GQ�폞���]@�x:��:xJ�39�bz����S���S(9�)�|U��tq|r��� �k����J�A؏c?�����O`?�>9� 8�"��x:y*����ӭo�{$Dޭu�����X��izd�����~ uս= 1998 amendment of the pools and lotteries part viii part ix act 1967 amendment of the road tolls act, 1985 amendment of the stamp duty act. Check the Finance Act 2019 in PDF. The Act introduces policy and taxation measures for revenue generation in the financial year 2019/2020 for government’s expenditure as well as to support the Big Four Agenda. PART II INCO.\!I' Tn Amendments ro Chapler f of Finance Act [Chapter 23:0-+1 2 Amendment of section 14 of Cap. 0000009532 00000 n Further to our newsletter circulated on 11 June 2020 after the budget speech, we would like to take this opportunity to inform you of some significant changes in the Finance Act 2020 passed by the Parliament on 18 June 2020. <> 56/2008, Act No. This Act does not apply to exploration for or production of petroleum. Amendment of Chapter 1 of Part 2 of, and Schedules 2 and 2A to, Finance Act 1999 (mineral oil tax) 41. 4. THE UNITED REPUBLIC OF TANZANIA THE LOCAL GOVERNMENT FINANCES ACT, 1982 (This edition of the Local Government Finances Act, 1982 incorporates all the amendments made to it since its enactments in 1982 up to 30th June, 2000 and is printed under the authority of section 18 of the Interpretation of Laws and General Clauses Act, 1972). 28 0 obj <> endobj 2) Act, 2019. 0000002338 00000 n The Customs Tariff Act 1978 is amended in section 2 by (a) repealing and replacing the definition of "raw This Alert outlines the key tax … 23:04 Section 1-+ ("Income ta" for periods of assessment after 1.-1..88") of the Finance Act [ChapTer 23:041 is amended-(a) in subsection (l) by the insertion of the following definition-- 2. The amendments have been passed in the Finance (Miscellaneous Provisions) Act (the “Finance Act”) and The Business Facilitation (Miscellaneous Provisions) Act (the “Business Facilitation Act”). This Alert is based on the Finance Act, 2019 which includes numerous amendments of tax and other non-tax laws. 365), The Excise (Management and Tariff) Act (Cap. trailer 0000002892 00000 n An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020. %%EOF In this Act, unless the context requires otherwise - Act No.7 of 1994 s.8 This Act maybe cited as the Public Finance Act, 2001, and shall Executive summary. 0000003497 00000 n
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