14/07/2015
Notice for Value Added Tax (VAT) in Insurance Premium
Dear Customer,
Due to the current financial year 2015, The government introducing Value Added Tax (VAT) on Insurance services which took effect on 1st July 2015, We hereby to wish to inform you, our esteemed client that this matter is being consulted between Tanzania Revenue Authority (TRA) and Tanzania Insurance Regulation Authority (TIRA).
All Insurance Premium would be loaded by 18% (Thus for a Third Party it will now be 100,000/= + 18% VAT and so forth)
We hope that this meets your understanding. Should you have queries please do not hesitate to contact undersigned.
Sincerely,