Welcome

Change in the industrial policy and liberalization of the economy has set the foundation for revolutionary development of the Tanzanian economy. But to forge ahead successfully in a planned and systematic manner, it is imperative for the country to have reliable professional services which can function as a corner stone for progress.

Keeping this in mind, a few professionals joined hands, to form Unique Financial Services Ltd.,  (UFS) a Financial Consultancy company which would encompass all commercial and legal requirements of business and act in an advisory and executive capacity to the community at large.

BUDGET HIGHLIGHTS: Revenue Target Exceeded. Expenditure less than budgeted. 45% of Government budget depend on foreign aid. GDP grew by 5.6% in real term. Inflation quantified at 4.6%. Foreign exchange reserve equal to 8 months of imports. Major Paris club creditors cancel their debts to Tanzania. VAT, Income Tax and Customs surpass collection targets. Income Tax Act 2004 applicable to all accounts starting from 1/7/2004 - Self assessment introduced, - Tax benefits of housing allowance and gratuity withdrawn, - Withholding tax on rent reduced to 10% from 15%. VAT remains at 20%, threshold increased to 40million. Pharmaceuticals, veterinary drugs, mosquito nets and articles for blind and disabled person shifted from Schedule II (Exempt Supplies) to Schedule I (Zero rated Supplies) under VAT act. Stamp duty on SME abolished. Major relief and tax incentives under Income tax, VAT and Customs for agricultural sector. No more renewal of Business license. Business Visa Fees reduced from 200 USD to 50 USD. Pre-shipment inspection replaced by inspection at the port of destination.

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Affiliations

Tanna Sreekumar & Co

Law Associates

NeST Technologies Inc.

Aptech Worldwide

1st Floor, Plot No. 2309 - 50,

Corner of Garden Avenue / Azikiwe Street,

Dar es Salaam,

Tanzania, East Africa.