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Tanzania Tax Rate for 2016-2017, 2015-2016, 2014-2015

Tanzania Income Tax Rate 2015-2016

Chargeable Income TZS

Tax Rate %

 

Upto 170,000

 

0%

 

170,000 to 360,000

 

11%

 

360,000 to 540,000

 

20%

 

540,000 to 720,000

 

25%

 

Over 720,000

 

30%

 

 

 

Tanzania Income Tax Rates for 2014-2015 and Deductions

Tanzania Income Tax Rate for Individual Tax Payers
 

Chargeable Income TZS

Tax Rate %

 

Upto 170,000

 

0%

 

170,000 to 360,000

 

12%

 

360,000 to 540,000

 

20%

 

540,000 to 720,000

 

25%

 

Over 720,000

 

30%

 

Corporate Tax Rates in Tanzania

The corporate tax rate is 30 percent. Profits after tax are subject to 10 percent withholding tax when distributed as dividend, resulting in an effective tax rate of 37 percent for a profit-making and dividend-distributing business organization.

Withholding Tax Rates in Tanzania

(i) Directors Fees
Directors’ fees will now be subject to a 15% withholding tax. The motivation for this change is unclear as it had been understood that such payments were already subject to a 30% withholding as tax on secondary employment income.

(ii) Aircraft lease rental
Withholding tax exemption on payments made by air transporters to non-resident persons in respect of aircraft lease rental has been abolished. As per Last year’s Finance Act the withholding tax rate on rental of assets from a non-resident person to 10%.

Capital Gain Tax Rates in Tanzania

Capital gains realised on the disposal of business and investment assets in Tanzania are subject to tax at the rate of 30% for corporations, and the graduated rates for individuals.

In the case of gains arising due to the disposal of an interest in land and/or buildings situated within Tanzania, a single installment of tax is due at the point of disposal, which is computed as 10% of the gain in the case of a resident person and 20% of the gain in the case of a non-resident person. A tax credit may be claimed, through the annual tax return, for this upfront installment amount paid.

Transaction taxes

Value Added Tax (“VAT”) is levied at a standard rate of 18% on the supply of goods and services in the mainland, Tanzania, and on the importation of vatable goods or services from any place outside the mainland, Tanzania. VAT is 0% on zero-rated goods and 10% on special relief.

Stamp and transfer duty

Stamp duty is levied on a wide range of instruments and documents. The rates of duty vary according to the nature of the instrument or document. Agreements for the sale of shares, for example, attract stamp duty computed as 1% of the value of the shares and stamp duty on rental agreements is 1% of annual rent.
 

 

Customs duty

Imported goods are liable to customs duty at the point of entry into Tanzania, at the rates published in the East African Community (EAC) Common External Tariff. A wide range of goods - mainly raw materials and capital goods - qualify for a nil rate, while intermediary and finished goods will incur customs duty of 0% - 25%, depending on their nature. Goods originating in Southern African Developing Countries (SADC) or the EAC have preferential customs duty rates. Imported goods are also subject to a 0.6% destination inspection fee.

Other taxes

Skills and development levy - 5% of gross cash remuneration, except for farm workers. This is an employer tax;

A “service levy” of up to 0.3% is charged by local authorities on the total turnover of enterprises based within their territorial boundaries (payable either monthly or quarterly depending on the requirements of each local authority); and

Excise duty is payable on a range of goods and services such as tobacco, alcohol, petroleum products, motor vehicles, carbonated drinks. Excise Duties are applied on mobile phones, airtime electronic communication service, money transfer through a bank, a financial institution or telecommunication company, telecommunication SIM cards and satellite television services.

Tanzania Dates of filing Returns / Reporting and Payment

Tax Year 1 January to 31 December

Tax Return due date Tax returns must be filed between 1 January and 30 June

 

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