The Finance Act dated 30th June 2023 whose implementation is effective 1st July 2023 provides for the amendment of various tax laws with a view of bringing reforms through the imposition and alteration of certain taxes, duties, levies, and fees.
It intends to enhance economic growth, particularly in strategic sectors including Industries,
Agriculture, livestock, fisheries, Energy, and Transport infrastructure as well as Education and Health Sectors with a view to improving the productivity of Tanzanians.
The measures further intend to improve domestic revenue mobilization and tax administration.
The Act also proposes to amend other written laws with a view to enhancing the collection, and management of public revenues, and improving the business environment.
This bulletin is not exhaustive of the Finance Act 2023 but summarises some of the key changes.
To go through the the whole document click the link below: