We have been zealously waiting for the Budget 2022 to come out and the ensuing Finance Bill of 2022 because this is President Samia Hassan Suluhu's budget in essence.
For the withholding tax mechanism to apply in Tanzania, following boxes have to be ticked: there must be income derived from a source that is subject to income tax as provided for in the income tax...
In Mainland Tanzania, suppliers of goods and services whose annual turnover is TZS 14 million or more are required to issue receipts (or invoices) through EFDs, known as fiscalised receipts (or fiscalised invoices).