Auditax International provides various tax services for setting up in Tanzania for Multinational Enterprises which are in the process of starting up their businesses in Tanzania. Our tax services in Tanzania include tax advisory on an appropriate tax efficient structure. Also advisory on the available tax incentives in Tanzania and tax (including both income tax and VAT). We also provide business registrations services.
Knowing the tax laws and associated risks as well as implications when setting up a business in Tanzania is key. This ensures long term success including profitability and management of cash flows. We advise Multinational Enterprises on the appropriate and efficient tax structure. This is through a detailed advisory report on taxes applicable for Multinationals in Tanzania and implications to businesses. This services also cover income taxes, VAT, customs taxes and local authority taxes.
The other advisory falling under taxes applicable for Multinationals for setting up in Tanzania is on tax incentives in Tanzania. Tanzania offers various tax incentives with the objective of attracting foreign and local investors. For an entity to obtain tax incentives it should be registered by Tanzania Investment Centre (TIC) . Also with Tanzania Revenue Authority (TRA). Tax incentives offered by The Tanzania Investment Centre (TIC) are confirmed by a Certificate of Incentives.
Tax incentives are mainly in the form of enhanced capital deductions and allowances as well as tax exemptions. Incentives are mainly provided to investments in the lead and priority sectors. These include Agriculture, agro-based industries, mining, tourism, petroleum and gas. They also include economic infrastructure (roads, railways, air and sea transport, port facilities, telecommunication, banking & insurance).
Tax incentives in Tanzania are not consolidated into one tax law. They are spread in various laws including the Income Tax Act, 2004. Value Added Tax Act, 2014. East African Community Customs Management Act, 2004. Zanzibar Investment Promotion and Protection Act, 2004. And Special Economic Zones Act, 2006.
Tax incentives is one of the key area for investors to understand among the taxes applicable to Multinational in Tanzania. Our tax services on tax incentives in Tanzania include registration with Tanzania Investment Centre. We also help in processing exemption certificates through Tanzania Investment Centre and TRA.
We also provide tax and business registration services including processing income tax registrations e.g TIN Certificate, VAT registration. We also help Multinationals to process incorporation of local entities and branches of foreign companies and business names. This services also covers processing of business licenses.