VAT (General) Regulations 2015

The Regulations include provisions dealing with the following: forms and procedure for various matters including adjustment notes; capital goods deferral; VAT returns; VAT refund claims; and VAT registration. As regards registration, the Regulations confirm an increase in the registration threshold to annual turnover of TZS 100 million.

The Regulations also cover the following: input tax on passenger vehicles; VAT representatives of non-residents; adjustment events including bad debts; insurance; finance leases; and transitional arrangements. Some initial concerns with regard to the Regulations are highlighted in the Commentary at the end of this newsletter.

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