Taxation affects all businesses. Developing effective tax strategies that encompass the whole entity is essential. We take the time to examine an entity as a whole and assess how each individual transaction will affect the overall tax position of the entity and management objectives.
We have a competent team to ensure all tax matters are handled accurately and timely. However, we provide representative service to the Tax Authority on behalf of our Clients. Our team ensures that tax disputes, objections and appeals are in line with the tax laws and the responses to the Tax authority are timely executed.
So as to effectively manage tax in a dynamic and digital world, we bring together tax function design, technology and compliance delivery to help you understand and meet your current and future challenges head-on.
Preparation of monthly payroll, completion of relevant monthly and annual forms, monitoring / effecting statutory payments; effecting payments to employees. Processing annual tax clearance. Assistance with payment and filing of other tax returns (VAT, withholding tax, service levy) and preparation of draft accounts.
Support with tax filing and payment requirements including statements of estimated tax and final tax returns, deadline monitoring, and maintenance of tax position summary.
Advice on all aspects of tax law including direct and indirect taxes, as well as certain matters ancillary to relevant tax advice (including employment and immigration law; foreign exchange control; company restructuring and reorganisation; and relevant industry regulatory matters).
Tax Health checks provide an independent review of tax compliance. The reviews focus on areas of high risk and also identification of tax opportunities.
Tax Technical courses are designed to equip taxpayers with a working knowledge of taxation in Tanzania. We will also keep you abreast of new developments in Tanzania as well as the international arena that affect your business.
Pre-audit prevention phase support by building "defence strategies" into the structure and operations of an enterprise to ensure that tax is a risk that is effectively managed.
Audit / examination phase - we can help you in managing and responding to investigations, audits, and examinations initiated by the Tanzania Revenue Authority. In addition, we assist in audit level presentations, negotiations, and settlement discussions in order to resolve disputes efficiently and favourably.
Post-audit settlement / resolution phase - If your tax dispute is not resolved, we can provide you with a full range of dispute resolution options. We have significant experience in the preparation of appeal documentation.
Our assistance can cover: preparation of transfer pricing documentation to meet the requirements in Tanzania; evaluation of your transfer pricing policies and actual practice (to review if correctly implemented); reviews prior to tax audits and support during tax audits. We also have access to the knowledge and skills of Globalmark’s international network of firms which we can leverage to assist in resolving transfer pricing disputes.
In Tanzania, NGO’s can apply to be recognised as charitable organisations, subject to written applications filed with the Commissioner of TRA. The predefined criteria include being a resident entity of public character that is established for relief of poverty or distress of the public, advancement of education, or provision of general public health, education, water or road construction or maintenance. An entity of public character is required to have its membership open to the general public or an identifiable group of persons, to operate without profit motive, not to distribute profits generated from its charitable business and to have its profits ploughed back and used solely for the original charitable function.
However, obtaining the charitable status does not amount to income tax exemptions. Instead, when the NGO has met the predefined criteria and has a ruling to be recognised as a charitable organisation, then it will be granted an additional tax deduction equal to 25% of its income. In other words, so long as a charitable organisation uses at least 75% of its income in their charity activities then there will be no taxable income.
Our Team will support your NGO or Trustee in obtaining the rulling from the Commissioner.
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