Banking and Financial Institutions (Compulsory Liquidation) Regulations Issued In terms of section 61(1) of the Banking and Financial Institutions Act, Act No. 5 of 2006 (the Act), where the resolution plan calls for liquidation of the bank or financial institution, the liquidation proceeds in terms of the provisions of section 41 and such Regulations as […]

The Mining Act Proposed for Amendment The Government of Tanzania has tabled before the National Assembly for deliberations a Written Laws (Miscellaneous Amendments) Bill, No. 4 of 2024 (the Bill). The Bill intends to amend various laws, including the Mining Act, Cap. 123 [R.E. 2019] (the Act). Meaning of Gross Value The Bill intends to […]

Court Invalidates Controversial Settlement Agreement Involving the Government for Lack of Free Consent and Consideration On 31 January 2024, the Court of Appeal of Tanzania at Mwanza (the Court) rendered its judgment in the case of Amos Njile Lili vs. Nyanza Cooperative Union (1984) Limited, Gerald Kusaya, and the Attorney General, Civil Appeal No. 126 […]

Court Rules on Corporate Governance Matters vis-à-vis Administration of Shareholder’s Estate On 25 January 2024, the High Court of Tanzania at Dar es Salaam, (the Court) issued its ruling in the case of Mary Deogratias Magubo (formerly known as Mary Boniface Fungo) & 2 Others vs. the Registrar of Companies, Misc. Commercial Cause No. 192 […]

Court of Appeal Determines Controversial Off-Duty Insubordination Matter in Favour of the Employer On 4 January 2024, the Court of Appeal of Tanzania (the Court) delivered its judgment in the case of PanAfrican Energy Tanzania Limited. vs. John Msigala, Civil Appeal No. 163 of 2020. In its decision, the Court examines the off-duty insubordination circumstances […]

Tax Revenue Appeals Tribunal Clarifies on the Timing and Applicability of Withholding Tax on Loan Interest Recently, the Tax Revenue Appeals Tribunal (the Tribunal) issued its judgment in the case of Commissioner General (TRA) vs. Vodacom Tanzania Plc., Tax Appeal No. 6 of 2022. In its decision, the Tribunal provides answers to two germane questions, […]