Tanzania Budget Speech - Proposed changes for the 2024/2025 tax year

Tanzania Budget Speech - Proposed changes for the 2024/2025 tax year

The Minister of Finance delivered the Budget Speech for the 2024/2025 tax year to the National Assembly on 13 June 2024. The budget marks a significant step towards implementing priorities identified in the Third Five-Year National Development Plan (2021/22 – 2025/26).

The following proposed tax measure was outlined that impact payroll for the 2024/2025 tax year:
  1. A proposed SDL exemption for casual workers employed in water projects managed by Water Authorities.
Notable administration changes:
  1. Empowerment of the Tax Ombudsman to address complaints related to tax decisions, procedures, services, and administrative matters.
  2. Raising the currency point value (which the Tanzania Revenue Authority uses to calculate penalties for non-compliance and offences) from 15,000 TZS to 20,000 TZS to accurately reflect current penalty values, given the long period without adjustment.
The proposed budget tax measures are set to take effect from 1 July 2024, subject to approval by the President and the publication of the Finance Act.




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