- Tanzanian Ministry of Finance presented the 2025-2026 budget speech on June 12
- Monthly minimum wage for public workers to increase to 500,000 Tanzanian shillings from July 1
- VAT exemption on reinsurance transactions and repeal on gaming supplies
- Zero-rate VAT for one year on specified textiles and three years on specified fertilizers
- VAT to be expanded to online marketing platforms and nonresident online payment services
- VAT rate reduced to 16 percent on specific B2C online purchases
- VAT collection agency to collect 3 percent VAT on payments to registered vendors
- Withholding rates of 10 percent on undistributed profits after six months and on gaming advertisement commissions
- 3.5 percent income tax on forest product income
- Withholding rate increased to 10 percent on insurance and reinsurance premiums paid to nonresidents
- Alternative minimum tax rate increased to 1 percent for companies with losses for three consecutive years
- Abolishment of 10-year income tax exemption for investors in special economic zones
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
