Key Facts:
Climate – Varies from tropical along coast to temperate in highlands
Population – 61,193,226
GDP (Per Capita) (2019) – $1,172
Official language – Swahili, English
Major Religions – Christianity (63.1%), Islam (34.1%), Traditional Faiths (1.8%), Others / Irreligious (1%)
Ethnic Groups – Sukuma, Nyamwezi, Chagga, Haya, Swahili, Arabs, Indian
Government – presidential republic (Tanzania), autonomous zone with independent government (Zanzibar)
Currency – Tanzanian Shilling (TZS)
Taxes – A Tanzanian resident is taxed on worldwide income, irrespective of source. Non-residents are taxable on income with a source in Tanzania.
Income tax is charged at a rate of 30% on income of a resident corporation and of a permanent establishment (PE) of a non-resident corporation or 5% of turnover for technical and management service providers to mining, oil, and gas entities (deducted by way of WHT). Certain payments to non-residents are subject to tax at the relevant non-resident WHT rates
Gain from the disposal of investments in Tanzania is subject to income tax where such investments fall within the source rules, and, in such a case, the gain will be taxed at a rate of 30%.
Residency by Investment:
There is no permanent residency in Tanzania. Tanzanian citizenship is governed by the Tanzania Citizenship Act No. 6 of 1995 and the 1997 regulations made thereunder. A person can acquire Tanzanian citizenship by birth, lawful marriage, descent or naturalisation.
Citizenship by Investment:
To be Updated.
Why it makes sense?
To be Updated.
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