Tanzania Budget Speech 2023

Tanzania Budget Speech 2023

The Minister of Finance delivered the Budget Speech for 2023/24 to parliament on 15 June 2023.
In relation to payroll, the following tax measures were outlined:
  1. A proposal to reduce the Skills Development Levy (SDL) from 4% to 3.5%.
  1. A proposal to grant the Minister of Finance, in consultation with the Minister of Education, the authority to issue a Skills Development Levy (SDL) exemption certificate if it is deemed beneficial to the nation.
  1. A proposal to allocate the collected Skills Development Levy (SDL) remittance equally among the Minister of Employment, the Higher Education Students' Loan Board, and the VETA Fund.
Pending approval, the proposed budget tax measures are generally expected to take effect from 1 July 2023.
Further details will be provided once the Finance Act is published.


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