Page 43 - Nexia SAB&T Africa Overview 2025

Tanzania (GMT +3)

General:
▪ Capital Cities: Dar es Salaam, Dodoma
▪ Official Language: Kiswahili, English
▪ Currency: Tanzanian Shilling (TZS)
▪ Main Exports: Gold, tobacco, coffee, cotton, cashew nuts, tea, cloves
▪ Surface Area: 947.3 sq. km (thousands)
▪ Population: 70,5 million (2025,est)
Key Economic Indicators:
▪ GDP: $85,98 billion (2025) / GDP Growth Rate: 5.5% (2024)
▪ CPI Inflation Rate (annual): 4% (2025)
▪ Sovereign Credit Ratings: Moody’s: B1, S&P: Not rated,
Fitch: B+ (High Credit Risk)
▪ Indicator of Economic Freedom Score: 59.3/100 (2025): Mostly Unfree
Exchange Controls:
▪ Exist
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Worldwide income
▪ Non-residents: Tanzanian-source income
Tax Rates:
▪ Individuals: Progressive rates to 30%
▪ Companies: 30%
▪ Inheritance and Donations Taxes: N/A
▪ VAT: 18%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Tanzania Investment Centre https://www.tic.go.tz
▪ Tanzania Revenue Authority http://www.tra.go.tz
▪ Bank of Tanzania https://www.bot-tz.org
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