Daily tax report: International
July 8, 2021, 5:00 a.m.
The Tanzanian Official Gazette published the Finance Act 2021 on June 30th. The law comprises the following measures: 1) Lowering the contribution tax rate (PAYE) from 9 to 8 percent; 2) Introduction of an excise tax rate of 10% on imported and locally produced synthetic fibers; 3) Introduction of a tax rate between 10 shillings ($ 0.004) and 10,000 shillings ($ 4.31) on electronic transfers; 4) increase in excise duty rates on alcoholic products; 5) Extension of the definition of permanent establishment; 6) Exemption from income tax on interest income on government bonds; 7) Request to the taxpayer within 15 days from …
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