Tanzania To Introduce New Investment Incentives, Minister Says

Dr Mary Nagu, Minister of State for Communication and Policy Coordination announced that Tanzania will introduce a set of new investment incentives in a number of key sectors including agriculture.

The announcement was held on April 12th 2015 in a breakfast meeting organised by the American Chamber of Commerce in Tanzania (AmCham-Tz) in Dar es Salaam.

Dr Nagu indicated that the initiative will be implemented through the Tanzania Investment Centre (TIC), although no time frame has been specified for the project.

Currently Tax incentives are granted to both local and foreign investors provided they are registered by TIC and/or Tanzania Revenue Authority (TRA).

Tax incentives are mainly in the form of enhanced capital deductions and allowances and are structured as according to the lead and priority sectors including agriculture, agro-based industries, mining, tourism, petroleum and gas and economic infrastructure (road, railways, air and sea transport, port facilities, telecommunication, banking & insurance).