The Finance Act, 2015

This is a section heading for an amendment to the Treasury Registrar (Powers and Functions) Act (Cap. 370).

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Jurisdiction: Tanzania
Instrument: Act or statute
Citation: The Finance Act, 2015
Version: Undated source snapshot
Language: en
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budget expenditure business licensing act compliance cross-reference fund remittance government revenue remittance imports legislation structure public corporations statutory interpretation tariff rates tax clearance

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Statute overview

About this statute

This is a section heading for an amendment to the Treasury Registrar (Powers and Functions) Act (Cap. 370). This section says this Part must be read together with the Treasury Registrar (Powers and Functions) Act. This section amends the Principal Act by inserting new text after section 10, beginning with “Operating expenditure ceiling.” Public or statutory corporations must keep qualifying operating expenditure within 60% of annual gross revenue and pay the resulting balance into the Consolidated Fund. This amendment requires each executive agency, public corporation, public or public institution to remit 15% of its annual gross revenue to the Consolidated Fund.

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Provisions of The Finance Act, 2015

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2
Section 2
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AI-assisted research summary: This is a section heading for an amendment to the Treasury Registrar (Powers and Functions) Act (Cap. 370).

2. 22 No.16 The Finance Act 2015 PART XV AMENDMENT OF THE TREASURY REGISTRAR (POWERS AND FUNCTIONS) ACT, (CAP. 370) Construction Cap 370

Part

PART XV

45
This Part shall be read as one with the Treasury
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AI-assisted research summary: This section says this Part must be read together with the Treasury Registrar (Powers and Functions) Act.

45. This Part shall be read as one with the Treasury Registrar (Powers and Functions) Act, hereinafter referred to as the “principal Act”. Addition of a new section 10A
46
Section 46
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AI-assisted research summary: This section amends the Principal Act by inserting new text after section 10, beginning with “Operating expenditure ceiling.”

46. The Principal Act is amended by adding immediately after section 10 the following: “Operating expenditure ceiling
10A
(1)
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AI-assisted research summary: Public or statutory corporations must keep qualifying operating expenditure within 60% of annual gross revenue and pay the resulting balance into the Consolidated Fund.

10A.-(1) Notwithstanding any law to the contrary the operating expenditure other than salaries for any public or statutory corporation which through Government budget shall not exceed sixty percent of its annual gross revenue in any financial year. financed is not seventy percent of (2) A public or statutory to corporation shall be required submit the balance obtained after deducting the operating expenses permissible in subsection (1) to the Consolidated Fund in the manner to be prescribed in regulations.” Amendment of section 8
47
The principal Act is amended in section 8(1) (f) by
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AI-assisted research summary: This amendment requires each executive agency, public corporation, public or public institution to remit 15% of its annual gross revenue to the Consolidated Fund.

47. The principal Act is amended in section 8(1) (f) by deleting that subparagraph and substituting for it the following: “(f) require each executive agency, public corporation, public or public institution to remit fifteen percentum of its annual gross No.16 The Finance Act 2015 23 Cap. 148 revenue to the Consolidated Fund in accordance with the Public Finance Act.” PART XVI AMENDMENT OF THE BUSINESS LICENSING ACT, (CAP.208) Construction Cap.208 Amendment of section 13

Part

PART XVI

48
This Part shall be read as one with the Business
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AI-assisted research summary: This Part must be read together with the Business Licensing Act, called the principal Act.

48. This Part shall be read as one with the Business Licensing Act, hereinafter referred to as the “principal Act”.
49
The principal Act is amended in section 13 by
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AI-assisted research summary: Section 13(3) is amended to add the words “and tax clearance certificate” after “number” and before “issued.”

49. The principal Act is amended in section 13 by inserting the words “and tax clearance certificate” between the words “number” and “issued” that appears in sub-section (3). PART XVII AMENDMENT OF THE EXCISE (MANAGEMENT AND TARIFF) ACT, (CAP.147) Construction Cap.147 Amendment of the Fourth Schedule

Part

Schedule

50
This Part shall be read as one with the Excise
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AI-assisted research summary: This section says this Part must be read together with the Excise (Management and Tariff) Act.

50. This Part shall be read as one with the Excise (Management and Tariff) Act, hereinafter referred to as the “Principal At”.
51
Section 51
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AI-assisted research summary: The Principal Act’s Fourth Schedule is amended by replacing figure 69.00 with 55.00 for HS Code 2201.10.00 and HS Code 2201.90.00.

51. the Principal Act is amended in the Fourth Schedule by deleting figure 69.00 that appears in the Sixth Column under HS Code 2201.10.00 and HS Code 2201.90.00 and substituting for it figure 55.00. Passed by the National Assembly on the 25th June, 2015. Dr. Thomas D. Kashililah Clerk of the National Assembly

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The Finance Act, 2015

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Provisions of The Finance Act, 2015

PART XV

PART XVI

Schedule

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