Tanzania Gazettes 2023 Finance Act

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The Tanzanian Official Gazette June 30 published the 2023 Finance Act. The law includes measures: 1) exempting the internal restructuring of mining companies from capital gain tax under framework agreements forming partnership entities between the government and the investors; 2) exempting specific manufacturing inputs from VAT; 3) zero-rating VAT on specific goods from July 1, 2023, until June 30, 2024; 4) reducing capital gains tax to the higher of 3 percent of sales value or appraised land value, from 10 percent of profits, for resident property sellers who don’t keep records of expenses; 5) applying indicative tax rates per vehicle …

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