Located in East Africa, this country is one of the most popular tourist destinations in the world. Tanzania has about 58 million inhabitants, while the capital Dodoma has about 2 million inhabitants. The largest city with about 7.8 million inhabitants is Dar es Salaam, followed by Dodoma with abround 2.1 million. Tanzania's GDP has been growing for 8 straight years, with current growth at 4.7%, and is projected to grow 5.3% in 2023 and 6.3% in 2024.
If you seek a business opportunity in Tanzania, this article can make the registration process more straightforward.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
Registration process in Tanzania
The sole proprietor registration process can be done online. First of all, it is necessary to register a business name. To start the registration process, create a profile on the BRELA official website. When you create a profile, a name registration card will open for you to fill out. The process takes about 30 minutes. Registration continues with the same profile. When you fill out the form, you need to refresh the page and then print and sign it. After that, you send the signed form to BRELA. The fee structure can be found on the official website.
Taxation System in Tanzania
Value Added Tax (VAT) in Tanzania is 18%. Registration for TIN (Tax Identification Number) can be done entirely online at the Tanzania Revenue Authority website. You need to create a profile on the site and then fill out the form that will appear on your profile. As a taxpayer, you need to register if your annual turnover exceeds TZS 1 million.
