Upload
azizally
View
219
Download
0
Embed Size (px)
Citation preview
8/3/2019 2008 Budget Highlights
http://slidepdf.com/reader/full/2008-budget-highlights 1/3
©2008 KPMG, the Tanzania member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in Tanzania. The KPMG name andlogo are trademarks of KPMG international
Budget Highlights - 2008/09
I I nn d d i i v v i i d d u u a a l l s s
MMoo rree mm oo nn ee yy iinn tt hh ee pp oo cckkee tt ffoo rr ee mm pp lloo yy ee ee ss
aa nn dd iinn dd iivv iidd uu aa ll iinn ccoo mm ee --ee aa rrnn ee rr ss ……
GGee tt tt hh aa tt ccaa rr bb aa cckk oo nn tt hh ee rroo aa dd ……
MM oo tt oo rr vv ee hh iicc llee lliiccee nn ccee ffee ee ss hh aa vv ee rree dd uu ccee dd !! !!
.. ..aa nn dd ee xx cc iiss ee dd uu tt yy oo nn vvee hh iicc llee ss iiss nn oo ww tt hh rree ee --
tt iiee rr ::
Engine size (cc)
Proposed (TShs)
Current (TShs)
Below 1000 0%
1000 - 2000 5%
Above 2000 10%
10% onvehicles
morethan
2000cc
Broad bands for income
Current band (TShs)
Revised band (TShs)
Rate (%)
0 –80,0000
0 –100,0000 0
80,001 –180,000
100,001 –360,000 15
180,001 –
360,000
360,001 –
540,00020
360,001 –540,000
540,001 –720,000 25
Above540,000
Above720,000 30
Reduction of motor vehiclelicence fees
Engine size (cc)
Proposed (TShs)
Current (TShs)
Below 500 30,000 50,000
500 - 1500 50,000 80,000
1500 - 2500 120,000 150,000
2500 - 5000 140,000 330,000
Over 5000 150000 175,000
BBuu tt …… hh oo lldd oo nn …… tt hh ee oo nn ee --oo ffff ffee ee ss hh aa vvee
iinn ccrree aa ss ee dd ???? MMoo tt oo rr vvee hh iiccllee ss –– FFrroo mm TTSS hh ss
9900,,000000 tt oo TTSS hh ss 112200,,000000
MMoo tt oo rrccyycc llee ss –– FFrroo mm TTSS hh ss 2277,,000000 tt oo TTSS hh ss 3355,,000000
YYoo uu aa rree ee nn ccoo uu rraa gg ee dd tt oo iinn vvee ss tt iinn AApp pp rroo vvee dd
CCoo llllee cc tt iivvee IInn vvee ss tt mm ee nn tt SS cchh ee mm ee ss ....
……CCaa pp iitt aa ll gg aa iinn ss tt aa xx ww iillll nn oo tt bb ee aa pp pp lliiccaa bb llee ww hh ee rree
yyoo uu ss ee llll uu nn iitt ss ffrroo mm aa nn AApp pp rroo vvee dd CCoo llllee cc tt iivvee IInn vvee ss tt mm ee nn tt SS cchh ee mm ee ..
RRee dd uu cc tt iioo nn oo ff mm oo bb iillee pp hh oo nn ee aa iirr --tt iimm ee tt aa rr iiffffss
mm aa yy nn oo tt pp aa yy oo ffff nn oo ww tt hh aa tt ee xxcc iiss ee dd uu tt yy oo nn aa iirr--tt iimm ee
hh aa ss gg oo nn ee uu pp ....
FFrroo mm 77%% tt oo 1100%%
All changes take effectfrom 1 July 2008 otherthan widened scope of“exported services” forVAT purposes, whichtakes effect 1 Jan 2009
8/3/2019 2008 Budget Highlights
http://slidepdf.com/reader/full/2008-budget-highlights 2/3
©2008 KPMG, the Tanzania member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in Tanzania. The KPMG name and
logo are trademarks of KPMG international
C C o o mm p p a a nn i i e e s s
IIff yyoo uu aa rree iinn bb uu ss iinn ee ss ss ,, yyoo uu aa rree ee xxpp ee cc tt ee dd tt oo
bb ee iinn iitt ffoo rr aa pp rroo ffiitt .. .. aa tt llee aa ss tt oo nn ccee ee vv ee rryy
tt hh rree ee yyee aa rr ss ……
IIff nn oo tt ????
HHaa vvee yyoo uu ww oo nn aa tt ee nn dd ee rr tt oo mm aa kk ee aa nn yy
ss uu pp pp lliiee ss tt oo aa
GG oo vvee rrnn mm ee nn tt bb oo dd yy????
NNoo nn --GG oo vvee rrnn mm ee nn tt aa ll aa nn dd nn oo nn --pp rroo ffiitt --
mm aa kk iinn gg oo rrgg aa nn iiss aa tt iioo nn ss aa pp pp llyy iinn gg ffoo rr VVAATT
ss pp ee cc iiaa ll--rree lliiee ff……
…… tt hh ee rree iiss mm oo rree tt oo bb ee dd oo nn ee !! !!
0.3% Alternative Minimum Tax(AMT) on gross turnover has
been introduced forcompanies that report tax
losses for three consecutiveyears..
… yes, even where your taxlosses arise due to claiming
capital and investmentallowances.
2% final withholding tax onpayments made by
Government to suppliers whodo not possess Taxpayer
Identification Numbers
(1) … submit annual work-plans to TRA, indicating how
charitable activities willbenefit the society.
(2) … certify that the VATrelief will only be used for theintended purposes, and not
otherwise.
(3) …TRA will issue TaxClearance Certificates to VAT
special-relieved NGOs forthem to continue enjoying
special relief status.
(4) …household consumableswill no longer enjoy VAT
special relief.
V V e e r r y y w w e e l l c c o o mm e e .. ..
EExx cc iiss ee dd uu tt yy oo nn HHee aa vv yy FFuu rrnn aa ccee OO iill ((HHFFOO)) iiss dd oo ww nn ffrroo mm TTSS hh ss 111177
pp ee rr lliitt rree tt oo TTSS hh ss 99 77 pp ee rr lliitt rree ..
IImm pp oo rr tt dd uu tt yy oo nn ss oo dd iiuu mm ss uu llpp hh aa tt ee iiss dd oo ww nn ffrroo mm 22 55%% tt oo
1100%%
8/3/2019 2008 Budget Highlights
http://slidepdf.com/reader/full/2008-budget-highlights 3/3
©2008 KPMG, the Tanzania member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in Tanzania. The KPMG name and
logo are trademarks of KPMG international
O O t t hh e e r r s s e e c c t t o o r r a a l l c c hh a a n n g g e e s s ……
FFrroo mm 11 JJ aa nn 2200 00 99 ,, ss ee rrvv iiccee pp rroo vv iidd ee rr ss ccaa nn nn oo ww ee nn j joo yy VVAATT zzee rroo --
rraa tt ee dd ss tt aa tt uu ss ww hh ee nn ee xxpp oo rr tt iinn gg tt hh ee iirr
ss ee rrvv iiccee ss
BBaa gg ss mm aa nn uu ffaa cc tt uu rree dd
lloo
cc
aa
llllyy
ffoo
rr
pp
aa
cc
kk
iinn
gg
iimm pp oo rr tt ee dd bb uu llkk aa gg rr iiccuu lltt uu rraa ll pp rroo dd uu cctt ss
aa rree zzee rroo --rraa tt ee dd !!
NN oo ww VVAATT--ee xxee mm pp tt ::
-- BBiitt uu mm ee nn ,, -- CCoo mm pp rree ss ss ee dd NNaa tt uu rraa ll GGaa ss ((CCNN GG)),, aa nn dd -- CCNN GG ccyylliinn dd ee rr ss
As from 2009, servicesqualifying for VAT zero-rated
status when exported willinclude:
• Accounting, consultancy,legal, engineering;
• Radio and televisionbroadcasting;
• Telecommunication;•• Auxiliary services in the
transport industry.
BBuu rrnn iinn gg gg ee ll ffoo rr dd oo mm ee ss tt iicc uu ss ee ww iillll bb ee VVAATT--ee xxee mm pp tt ww hh ee nn
ss oo lldd tt oo ccoo nn ss uu mm ee rrss ....
WW hh ee nn MM oo tt oo PPoo aa LLtt dd pp uu rrcchh aa ss ee ss iinn pp uu tt ss ffoo rr pp rroo dd uu cciinn gg MM oo tt oo PPoo aa
bb uu rrnn iinn gg gg ee ll,, ss uu cchh iinn pp uu tt ss ccaa nn ee nn j joo yy VVAATT
ss pp ee cc iiaa ll--rree lliiee ff
PPrr iiccee ss oo ff ccaa rrbb oo nn aa tt ee dd ss oo fftt dd rr iinn kkss ,, bb ee ee rr ,, ww iinn ee ss aa nn dd cciigg aa rree tt tt ee ss
mm aa yy iinn ccrree aa ss ee nn oo ww tt hh aa tt ee xxcc iiss ee dd uu tt yy
tt hh ee rree oo nn hh aa ss iinn cc rree aa ss ee dd bb yy 1122%%
AAg g r r i i c c u u l l t t u u r r e e ……
HHaa nn dd hh oo ee ss aa nn dd oo tt hh ee rr iinn pp uu tt ss aa rree nn oo tt ss uu bb j jee cc tt
tt oo iimm pp oo rr tt dd uu tt yy
NN oo mm oo rree pp aa yy iinn gg oo ff aa nn nn uu aa ll lliiccee nn ccee ffee ee ss
oo nn tt rraa cc tt oo rr ss !!
OO tt hh ee rr iimm pp oo rr tt dd uu tt yy
ee lliimm iinn aa tt ee dd •• DDaa tt aa pp rroo ccee ss ss iinn gg
mm
aa
cc
hh
iinn
ee
ss
•• CCrruu dd ee pp aa llmm oo iill •• BBaa rr llee yy uu pp tt oo 2200 ,,000000
MM ee tt rr iicc TToo nn nn ee ss iimm pp oo rr tt ee dd bb yy lloo ccaa ll bb rree ww ee rryy ccoo mm pp aa nn iiee ss bb ee ffoo rree 3311 DDee ccee mm bb ee rr 2200 00 99
•• GG aa rrbb aa gg ee --ccoo llllee cc tt iioo nn vv ee hh iicc llee ss pp uu rrcchh aa ss ee dd
bb yy lloo ccaa ll aa uu tt hh oo rr iitt iiee ss oo rr tt hh ee iirr aa pp pp rroo vvee dd aa gg ee nn tt ss
•• IInn pp uu tt ss iimm pp oo rr tt ee dd bb yy TTaa nn ee llee cc LLtt dd ffoo rr mm aa nn uu ffaa cc tt uu rr iinn gg tt rraa nn ss ffoo rrmm ee rrss aa nn dd ss ww iitt cchh gg ee aa rr ss