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Budget Highlights for the Financial Year 2018/2019

For your reference, the budget summaries and highlights from different firms along with the Budget Speech presented by the Minister for Finance and Planning, Mr Philip Mpango.  Focus has been placed mainly on infrastructure in this year’s budget.With the exception of electronic tax stamp which should begin September 1st, and was heavily lobbied against due to dispute to how tender was done; all other changes take effect on July 1st 2018.Tourism was only granted duty exemptions on tourism vehicles upon meeting certain conditions – these conditions have not been detailed yet. 

A win regarding OSHA! The following will be abolished at the start of the new financial year:

  • Fees imposed on application form for registration of working places;
  • Levy imposed on the registration of working places;
  • Fines related to fire and rescue equipment;
  • OSHA compliance license of TZS 500 000; and
  • Consultancy fees of TZS 450,000.

More clarifications and ‘minor’ changes expected on the Finance Bill.

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