About Tanzania

United republic Of Tanzania ( Jamuhuri ya Muungano wa Tanzania)

SUMMARY

Capital	Dodoma	Population(2010est)	43,188,000
Largest City	Dar es Salaam	Population(2003   Census)	34443603
Legislature	National Assembly	Density	46.3/km2
Area:	945,203 km2            >>>>>>>>>	364,898 sq mi

Tanzania Income Tax Rate 0  to 30%    Tanzania Corporate Tax Rate  30%      Tanzania VAT Rate  18%

Statutory rate for 2012

This is to inform the public that with effect from 1st January, 2012 the Statutory Interest Rate is 12% this rate will be used for all matters involving calculation of interest under the Income Tax law. This is the Bank of Tanzania Discount rate at the start of the 2012 calendar year. – issued by TANZANIA REVENUE AUTHORITY

Tanzania Investment Basics:

Currency – Tanzania Shillings

Foreign Exchange Control – None, resident and nonresident corporations and individuals can hold bank accounts in any currency. Repatriation payments generally may be made in any currency, subject to the need to demonstrate reasons for payment before a transfer in foreign currency takes place.

Accounting Principles/Financial Statements – Financial Statements must be prepared annually using IFRS and certain local standards.

Principal business entities – these are the sole propriatorship, partnership, trust, private and public limited liability company, cooperative and branch of a foreign corporation.

USEFUL LINKS

1. TANZANIA INCOME TAX RATES

2. TANZANIA EXCERPTS OF BUDGET 2012/2013

3. TANZANIA ECONOMIC INDICATORS HIGHLIGHTS

4. TANZANIA MONETARY POLICY STATEMENT  JUNE 2012