In this page: Accounting Rules | Tax Rates | Intellectual Property | Legal Framework | Standards | Business Practices
The presentation and preparation of financial statements should be performed in accordance with the Companies Act of 2002. Financial statements must include:
Tanzania | Sub-Saharan Africa | United States | Germany | |
---|---|---|---|---|
Number of Payments of Taxes per Year | 59.0 | 36.6 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 207.0 | 284.8 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 43.8 | 47.3 | 36.6 | 48.8 |
Source: Doing Business - Latest available data.
Individual income tax - Residents in Mainland Tanzania | |
Less than TZS 270,000 | 0% |
TZS 270,000 - 520,000 | 8% |
TZS 520,000 - 760,000 | TZS 20,000 + 20% of the amount in excess of TZS 520,000 |
TZS 760,000 - 1 million | TZS 68,000 + 25% of the amount in excess of TZS 760,000 |
TZS one million and above | TZS 128,000 + 30% of the amount in excess of TZS 1 million |
Individuals with business turnover not exceeding TZS 100 million per year | Specific presumptive income tax rates apply |
New Year's Day | 1 January |
Zanzibar Revolution Day | 12 January |
Good Friday | Last Friday before Easter |
Easter | End of March - April |
Easter Monday | First Monday after Easter |
Karume Day | 7 April |
Union Day | 26 April |
Labour Day | 1 May |
Eid El Fitr/End of Ramadan | Varies according to the lunar calendar |
Saba Saba Day | 7 July |
Nane Nane (Farmer's) Day | 8 August |
Eid El Haj | Varies according to the lunar calendar |
Mwalimu Nyerere Day | 14 October |
Maulid Day | Varies according to the lunar calendar |
Independence Day | 9 December |
Christmas Day | 25 December |
Boxing Day | 26 December |
Easter Holiday | End of March - April |
Christmas | End of December |
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Latest Update: May 2024