Hawa ni individual. Pitia hii boss, imetoka web ya TRA.
Individuals are categorized in two groups:
- Individual traders who are under presumptive tax regime
- Individual trader who are not under presumptive regime.
1) Individual traders who are under presumptive tax regime
Taxation of individual under presumptive regime is based on annual turnover. In this category individual are not required to file final return with audited books of accounts unless he/she elects to. This category consists of individuals who fulfills the following requirements:
- the individual should be a resident for the year of income,
- the individual's income for a year of income consists exclusively of income from a business having a source in the United Republic;
- the turnover of the business does not exceed Tshs. 100 million: and
- the individual does not elect to dis-apply the presumptive rules
Individual traders who are no under presumptive tax regime
This category consists of individuals who do not fulfil the requirements of presumptive tax regime. Under this category individual pay tax basing on their taxable income for the year. The traders under this are required to keep proper records including filing of provisional returns on or before 31st March. At the end of the year the individual under this category are required to file final return attaching the audited financial statements and submit it to TRA on or before 30 June of the following year to which the return relates.
