A draft bill Written Laws (No 3) Certificate of Urgency (draft 30 May 2019) is currently under debate in Parliament to require any companies limited by guarantee (CLG) which are not carrying out commercial activities to move to be registered and governed under the Non Governmental Organisation (commercial activities) regime.
Microfinance Act 2018 was enacted by National Assembly on 16 November 2018 (see VELMA Law earlier post) and now the Bank of Tanzania (BOT) has published a Notice to the public requiring all persons engaged in “microfinance business” to submit to BOT by Thursday 31 January 2019 the detailed corporate and financial background information listed in … Read more
New Tourism Business Licence requirements have been published 26 November 2018. Please contact us if you have any comments or questions.
A Land Transport Regulatory Authority Bill 2018 has been presented to Parliament. If approved this shall establish Land Transport Regulatory Authority (LATRA) to control services in: rail transport; commercial road transport; commercial underground; and cable transport, in place of Surface and Marine Transport Regulatory Authority (SUMATRA). Please contact us if you have any comments or questions.
USAID has published its Tanzania Investment Policy Assessment 2018 via its East Africa Trade + Investment Hub. Statistics are from United Nations Conference on Trade and Development (UNCTAD). See: http://unctad.org/en/Pages/statistics.aspx The set of investment policy questions that guided the research process are adapted from the World Bank Group. See http://documents.worldbank.org/curated/en/666341500008847215/pdf/117475-PUBLIC-WP-13-7-2017-12-8-30-SPIRAToolKitGuide.pdfInternational best practice is cited from several … Read more
Ministry of Industry, Trade and Investment, Dodoma has in May 2018 published a Blueprint for Regulatory Reforms to Improve the Business Environment dated December 2017. The Blueprint provides the Government’s main framework for enabling a holistic review of the business enabling environment (BEE) in order to improve the business climate in Tanzania. It presents key … Read more
Mining – Local Content Regulations 2018 have been published. They are detailed and concise in their scope and application but are materially unclear in some aspects. As regards foreign service providers please note for instance: Regulation 8(6): A non-indigenous Tanzanian company which intends to provide goods or services to a contractor, a subcontractor, licensee, the Corporation or … Read more
BRELA is improving its online registration system (see BRELA notice January 2018) and has now given further notice that a company formed before 1 February 2018 must go online to verify its information (see Daily News Article 23 March 2018 and Mwananchi 26 March 2018) in the next 6 months by, we believe, 1 August 2018. NB … Read more
Notice has been issued to encourage compliance to register and use .tz domain names Tanzania. Failure to comply will attract fine and/or imprisonment as stipulated under Electronic and Postal Communications Act.
Deposit Insurance Board has announced that reimbursement of insured deposits of FBME Bank Ltd (under liquidation) to depositors will commence on 1 November 2017.