Tanzania Parliament Considers 2025 Finance Bill

The Tanzanian Parliament June 12 accepted for consideration Bill No. 5, on Finance Act 2025. The bill includes measures to: 1) introduce excise tax at 22,000 Tanzanian shillings (US$8.41) per ton of carbon emissions, for coal and natural gas; 2) apply a 10 percent withholding rate on permanent establishment (PE) profits that remain undistributed for six months, hired motor vehicles, and gaming advertisement; 3) reduce the limit ratio for carrying forward deductible losses, to 60 percent from 70 percent, for mining, petroleum, and gas activities operating at a loss; 4) introduce a 3.5 percent tax on forest product income; 5) ...