Government of Tanzania
The United Republic of Tanzania is located in Eastern Africa between longitude 29o and 41o East, Latitude 1o and 12o South. The United Republic of Tanzania was formed out of the union of two sovereign states namely Tanganyika and Zanzibar. Tanganyika became a sovereign state on 9th December, 1961 and became a Republic the following year. Zanzibar became independent on 10th December, 1963 and the People’s Republic of Zanzibar was established after the revolution of 12th January, 1964. The two sovereign republics formed the United Republic of Tanzania on 26th April, 1964. However, the Government of the United Republic of Tanzania is a unitary republic consisting of the Union Government and the Zanzibar Revolutionary Government.
National Board of Accountants and Auditors
The National Board of Accountants and Auditors (NBAA) is a Tanzanian accountancy professional body established under the Auditors and Accountants (Registration) Act. No. 33 of 1972, as amended by Act No. 2 of 1995. It is an accountancy regulatory professional body, operating under the Ministry of Finance and Economic Affairs (MOFEA).
Tanzania Revenue Authority
Tanzania Revenue Authority (TRA) works with a mission to be an effective and efficient Tax Administration, which promotes Voluntary Tax Compliance by Providing high quality Customer Service with fairness and integrity through competent and motivated staff. All the laws with regards to taxation viz. Income Tax Act, Stamp Duty Act, Value Added Tax Act, etc. fall under the purview of TRA.
Business Registration and Licensing Agency
Market economy, is by and large a catalyst to sustainable economic development as it breeds and nutures competition in the markets for both goods and services. Competition in turn leads to product and systems innovations for better quality products and services in the market and also value for money, all for the benefit of consumers. Regulation and facilitation therefore, are a necessary ingredient for a vibrant, sustainable and effective market economy. The two activities are responsible for the refereeing and provision of level field in which participants in the market economy compete. In recognising this fundamental requirement, as our society gallops towards market economy, the government as part of its civil service reform has Business Registrations and Licensing Agency (BRELA). Its mission is to regulate and facilitate business operations by adopting internationally recognized best practice.
Tanzania Investment Centre
Tanzania Investment Centre (TIC) is the primary agency of Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment related matters. TIC is the focal point for investors. It is the first point of call for potential investors; it is a ?one stop facilitative centre for all investors?. Tanzania Investment Centre has established Zonal offices in Kilimanjaro, Mwanza and Mbeya regions in order to assist Investors who are based in nearby regions to access TIC services without necessarily travelling to Dar es Salaam. The Zonal offices are responsible in assisting investors to obtain all relevant permits, approvals and licenses they require in order to set up their business.
Export Processing Zone Authority
Export Processing Zone Authority (EPZA) is an autonomous Government agency established under section 12 of the EPZ (Amendments) Act of 2006. EPZA operates under the Ministry of Industry, Trade and Marketing and is the principal Government Agency for promoting investments in the Tanzanian Economic Zones particularly the Export Processing Zones (EPZ) and the Special Economic Zones (SEZ). Other functions of EPZA include;
The development of EPZ/SEZ infrastructure,
- Provision of business services to EPZ/SEZ investors and
- The provision of EPZ/SEZ licenses.
The Authority functions as a one stop shop for all prospective and existing investors. EPZA is a place whereby interested investor gets assistance in everything that is required before investing. It is an efficient and effective investment promotion agency, a ?one stop service centre for all investors?, engaging in the business of marketing Tanzania as an investment destination.
EPZA is there to help interested investors in providing efficiency, lowering the costs of moving from one place to another and minimize bureaucracy which saves time.
Bank of Tanzania
Following the decision to dissolve the EACB and to establish separate Central Banks in Tanzania, Kenya, and Uganda, the Bank of Tanzania Act, 1965, was passed by the National Assembly in December 1965, and the Bank was opened by the first President of Tanzania Mwalimu Julius K. Nyerere on June 14, 1966. The Act empowered the Bank of Tanzania to perform all the traditional central banking functions. As a result of various reforms over the years, in June 2006 The Bank of Tanzania Act was passed and enforced to provide for more responsive regulatory role of the Bank of Tanzania in relation to the formulation and implementation of monetary policy; to provide for the supervision of banks and financial institutions and to provide for other related matters.
Tanzania Bureau of Standards
Tanzania Bureau of Standards (TBS) was established under the Ministry of Industry and Trade by an Act of Parliament, the Standards Act No.3 of 1975 as the National Standards Institute and became operational in April 1976. It was subsequently renamed Tanzania Bureau of Standards through an amendment to the Act by Act No.1 of 1977. The Standards Act No. 3 was later repealed and replaced by the Standards Act No. 2 of 2009, which gave the Bureau more powers in carrying out its mandate. The Bureau was established as part of the efforts by the government to strengthen the supporting institutional infrastructure for the industry and commerce sectors of the economy. Specifically, TBS was mandated to undertake measures for quality control of products of all descriptions and to promote standardization in industry and commerce.